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Permian Players Tackle Methane

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Three of the US’ biggest independent hydrocarbon producers are joining a global initiative committed to measuring, reporting and mitigating emissions of methane, a potent greenhouse gas. US giants ConocoPhillips, Pioneer Natural Resources and Devon Energy said last week that they have joined the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative, with a mission to “improve the industry’s transparency in methane-emissions reporting and encourage progress in reducing those emissions.” Members of OGMP pledge to transparently report their methane emissions and set reduction targets that are "reflective of broader goals" to cut emissions from 2015 levels by 60%-75% by 2030. While individual company data is kept confidential, “participating companies will be provided with the means to credibly demonstrate that they are contributing to climate mitigation and delivering against their methane improvement objectives and targets,” according to a release.

Topics:
Methane Emissions, Corporate Strategy , Independent E&Ps
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