Seneca Resources Company LLC and NexTier Oilfield Solutions Inc. intend to pioneer an innovative study evaluating the carbon emissions generated by various types of equipment commonly used for hydraulic fracturing of oil and natural gas wells, Seneca said on July 12.
The results of this study are expected to provide the industry with a comparative insight on the emissions profile of these technologies, including those utilizing Tier 2 diesel and dynamic gas blending (DGB) engines, Tier 4 diesel and DGB engines, natural gas-powered turbine engines, and electric frac equipment powered by natural gas-fueled reciprocating engines.
This carbon emissions assessment is expected to be the most comprehensive testing of real-time well stimulation operations performed within the industry to date, with independent third-party testing to be performed for each of these technologies during Seneca’s field operations. The planned emissions testing will follow EPA-recommended procedures, with the equipment and completions solutions to be operated by NexTier.
“Seneca is keenly focused on limiting our environmental impact, including looking for ways to further reduce greenhouse gas emissions generated by our operations,” Justin Loweth, president of Seneca. “The testing to be performed over the coming months will provide comparative fact-based emissions data to support Seneca’s efforts to select equipment that best satisfies our commitment to long-term sustainable operations. We look forward to working with NexTier on this initiative, with the respective companies sharing a commitment to leading ESG performance.”
The fund, named Brookfield Global Transition Fund, is supported by founding investment partners, Ontario Teachers’ Pension Plan Board and Temasek, which both pledged major commitments.
Brookfield’s revision comes as the investment firm tries to beat a rival bid from Pembina Pipeline Corp., which has been recommended by Inter’s board.
Canadian pipeline operator Inter Pipeline had recommended that shareholders vote for a rival takeover offer from Pembina Pipeline instead of an earlier bid by Brookfield which included an all-cash option.