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3BL Media: New Analysis Reveals Stark Disparities in Emissions Intensity Between Major Oil and Gas Operators
A first-of-its-kind analysis from Ceres and the Clean Air Task Force provides investors, operators, natural gas purchasers, policymakers and regulators with the data needed to directly compare relative emissions intensity and total reported methane, carbon dioxide, and nitrous oxide emissions for nearly 300 U.S. oil and gas producers. The results reveal dramatic variability between companies and basins.
The report, Benchmarking Methane and other GHG Emissions of Oil and Natural Gas Production in the United States, focuses on exploration and production emissions among the largest oil and gas producers in the U.S., and helps create a clear, consistent record for an industry where historically, voluntarily reported metrics are often inconsistent and non-comparable.
M.J. Bradley & Associates (MJB&A) — an ERM Group company that provides strategic consulting services to support the transition to a net-zero emissions economy — performed the analysis using data companies are required to submit to the U.S. Environmental Protection Agency (EPA) in compliance with the Greenhouse Gas Reporting Program.
Emissions intensity, or the amount of methane or greenhouse gas emissions per unit of production, varies widely between even similarly-sized operations, according to the report, largely due to differences in equipment and operational practices. The authors hope the findings will help investors differentiate between companies, and will also inform regulators, lawmakers and even company executives themselves, particularly as the EPA prepares to revise federal methane regulations this fall.
Read more here.