DENVER and OKLAHOMA CITY, April
13, 2021 /PRNewswire/ -- Project Canary and Chesapeake
Energy Corporation (NASDAQ: CHK) launched a pilot partnership to
produce certified responsibly sourced natural gas (RSG) at select
well pads in the Marcellus and Haynesville shales, the companies
announced today.
Chesapeake Energy will produce RSG using Project Canary's
continuous on-site emissions monitoring technology and TrustWell™
certification process, which provides third party verification that
the operator has utilized the highest standards and practices in
all phases of their operations.
"Leading a responsible energy future is foundational to
Chesapeake's success," said Chesapeake's Chief Executive Officer
Doug Lawler. "Through this two-basin
partnership, we will be able to further demonstrate our commitment
to generating shareholder value and ESG excellence. We are excited
to work with Project Canary as we continue to expand our
sustainability efforts and deliver top operating performance."
The initial agreement between Chesapeake and Project Canary
includes select well pads in northeast Pennsylvania and northwest Louisiana, though the partnership may be
expanded based on initial findings and market conditions. Using
real-time, continuous emissions monitoring at well pads, the pilot
project aims to validate the high environmental standards by which
natural gas is produced and that a market exists for differentiated
RSG products.
A Denver-based B-Corp, Project
Canary provides emissions monitoring data and related technologies,
and has developed a unique wellhead to burner-tip pilot that can be
used across the energy value chain – from the production,
transmission and marketing of RSG.
"With our innovative technology and independent certification
process, Project Canary aims to meet the market demand for
sustainably developed resources and real-time emissions
monitoring," said Project Canary co-founder & CEO
Chris Romer. "Chesapeake is an
industry pioneer and top producer, and we're proud to help them
reach the highest environmental standards."
This project marks more than two-dozen agreements Project Canary
has entered with exploration and production companies, reflecting
the strong and growing demand for the company's innovative
environmental performance solution based on trusted, independent
data.
Project Canary Contact:
Brian
Miller
Vice President, Growth and Policy
Brian.Miller@ProjectCanary.com
Chesapeake Energy Contact:
Gordon Pennoyer
Director – Communications & Investor Relations
Media@chk.com
About the Pilot Participants
Project Canary, an International Environmental Standards company
based in Denver, Colorado, is a
mission-driven B-Corporation accountable to a double bottom line of
profit and the social good. Project Canary believes it is possible
to create a financially successful, self-sustaining business that
"does well and does good." Project Canary's goal is to mitigate
climate change by helping the oil and gas industry operate on a
cleaner, more efficient, more sustainable basis. Project Canary
partners with the Colorado School of Mines Payne Institute to
develop a collaborative environment for oil and gas companies and
external parties to share best practices and insights garnered
through continuous monitoring. To learn more, visit
projectcanary.com.
Headquartered in Oklahoma City,
Chesapeake Energy Corporation's (NASDAQ: CHK) operations are
focused on discovering and responsibly developing its large and
geographically diverse resource base of unconventional oil and
natural gas assets onshore in the United
States.
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SOURCE Project Canary