As the world decarbonizes, there is still an important role for oil and gas to play as a transition fuel.
“I want to be very straightforward. There is no energy transition without fossil fuels, which will play an important role in the transition for several decades,” Brian Cain, Chief Sustainability Officer at Civitas Resources, told Hart Energy’s Faiza Rizvi.
So, how do E&P companies fit into the transition?
Oil and gas producers play an important role by ensuring responsible production, Cain said. “I think responsibly sourced gas (RSG) plays a big part in the energy transition,” Cain said, adding that the concept of RSG is often misunderstood.
As Colorado's state's first net-zero oil and gas producer, Cain said Civitas is ahead of the curve in managing emissions and has an “ambitious” emission reduction strategy.
The company was also recently awarded as ‘2022 Environmentalist of the Year’ by Fellow Environmental Partners (FEP), a nonprofit focused on research and reclamation of orphaned oil & gas wells, for Civitas Resources’ commitment to voluntarily plug orphaned wells throughout the state of Colorado.
Last January, Civitas committed to plug 42 oil and gas wells that were orphaned by previous operators in Colorado, an effort in line with the nonprofit's mission of leveraging oil and gas knowledge to assist with environmental cleanup for future generations.
“We were extremely humbled to receive this award from Fellow, which is a terrific organization,” Cain, said, commenting on the recognition.
“We think as operators and responsible members of the industry, we need to be cleaning up after ourselves not just for our companies but also for other companies. We want to make our landscape and environment better for the benefit of our state, our community and our stakeholders,” Cain said.
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