OKLAHOMA CITY, July 14, 2021 /PRNewswire/ -- Chesapeake Energy
Corporation (NASDAQ: CHK) today announced a new collaboration with
MiQ and Equitable Origin to begin independent certification of its
natural gas production under the MiQ methane standard and the
EO100TM Standard for Responsible Energy Development,
which covers a broad range of environmental, social and governance
(ESG) criteria.
Chesapeake will work with MiQ and Equitable Origin to initially
certify production across its Gulf Coast asset before expanding
into its Appalachia asset, making Chesapeake the first company to
certify production across two major shale basins. This new project
demonstrates Chesapeake's commitment to environmental stewardship
and sustainable production across its gas basins. Chesapeake has
pledged to reduce methane intensity to 0.09% by 2025, and MiQ
Certification will provide a verified approach to tracking this
commitment, as well as support Chesapeake in its overall objective
of achieving net-zero direct greenhouse gas emissions by 2035.
Mike Wichterich, Chesapeake's
Board Chairman and Interim Chief Executive Officer, commented,
"Leading a responsible energy future is core to Chesapeake's
values, and this partnership marks another important step as we
advance our focus on differentially lowering our methane and GHG
intensity in pursuit of achieving our pledge to reach net-zero
direct emissions. Chesapeake's multi-basin portfolio and the
technical expertise of our talented employees provide the company a
unique operating platform to play a leadership role in delivering
responsibly sourced natural gas to users around the world."
MiQ, a non-profit partnership between RMI and SYSTEMIQ, is
pioneering a market-based approach to rapidly reduce methane
emissions across the natural gas sector. Its quantitative
certification standard – the MiQ Standard – factors in methane
intensity, company practices, and methane detection. MiQ certified
natural gas embodies a commitment to transparency, accountability,
technology independence, and granularity.
Georges Tijbosch, Senior Adviser, MiQ, said: "We are delighted
to be working with Chesapeake on this important project. Diligently
monitoring and abating methane – which has 84x the global warming
potential of CO21 – is critical if we are to
reach our climate objectives. It is great to see the continued
growth of certified natural gas in the US natural gas market, and
we are delighted to once again be working with Equitable Origin to
provide Chesapeake third-party audited, independently verified
certification for its natural gas."
Equitable Origin has a proven track record of certifying
energy production on ESG indicators in accordance with its EO100™
Standard for Responsible Energy Development, a set of rigorous ESG
performance targets for energy development projects. Equitable
Origin's approved assessors will evaluate Chesapeake's produced
natural gas against the five principles of the EO100™ Standard,
including corporate governance and ethics; social impacts, human
rights and community engagement; Indigenous Peoples' rights;
occupational health & safety and fair labor standards; and
environmental impacts, biodiversity and climate change.
Soledad Mills, CEO, Equitable
Origin, commented: "We are excited to be working with MiQ and
Chesapeake on this new project. Chesapeake is committed to
protecting the country's natural resources and reducing its
environmental footprint. We look forward to working with them and
MiQ to help them bring that commitment to life through independent
certification."
Chesapeake anticipates that the certified natural gas will be
available by the end of 2021 in the Gulf Coast basin and the second
quarter of 2022 in the Appalachia basin.
About Chesapeake Energy Corporation:
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.
About MiQ:
MiQ has developed a universally applicable
certification standard for credibly assessing the methane
performance of natural gas production around the world. The
standard is independent, third-party audited, quantitative, and
graded across a sliding A-F scale based on three metrics: methane
intensity, company practices, and methane detection technology
deployment. MiQ's Certification scheme is designed to improve
transparency surrounding methane emissions and provide the backbone
for a level playing field across the global natural gas market.
An MiQ Certificate represents the methane emissions performance
attributes of a specified portion of natural gas. To prevent
double-counting, MiQ maintains a registry of all MiQ Certificates
from Issuance through to Retirement. Visit miq.org/certification
for more information.
About Equitable Origin:
Equitable Origin is a
non-profit organization that created the first market-based
mechanism to recognize and reward responsible energy producers and
to empower energy purchasers through independent, site-level
certification. The EO100™ Standard for Responsible Energy
Development is grounded in a set of comprehensive, globally
applicable ESG indicators developed with extensive stakeholder
input. Certification against the EO100™ Standard promotes best
practices and drives improvements in ESG performance while enabling
a market for differentiated energy production. To learn more visit
energystandards.org.
CHK IR
CONTACT:
|
CHK MEDIA
CONTACT:
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MiQ, EQUITABLE
ORIGIN MEDIA CONTACT:
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Brad Sylvester,
CFA
(405)
935-8870
ir@chk.com
|
Gordon
Pennoyer
(405)
935-8878
media@chk.com
|
Hannah Butler
+44 7570 597071
Hannah.butler@theblakeneygroup.com
|
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SOURCE Chesapeake Energy Corporation