Seneca Resources Achieves Certification of its Appalachian Natural Gas Production under the Equitable Origin Standard
Seneca Resources Company, part of National Fuel Gas Company (NYSE: NFG), announced the certification of its Appalachian natural gas production, exceeding 1 billion cubic feet daily, under Equitable Origin’s EO100™ Standard for Responsible Energy Development. The certification was confirmed through a thorough audit by Geosyntec, emphasizing compliance with environmental, social, and governance (ESG) principles. This achievement highlights Seneca's commitment to sustainability, aiming to differentiate its low methane-intensity production in the market and meet rising demand for responsibly sourced natural gas.
- Certification of 100% Appalachian natural gas production under EO100™ Standard, enhancing market credibility.
- Demonstrates commitment to environmental responsibility and community engagement.
- Expected to meet increasing market demand for certified natural gas, potentially improving sales.
- None.
WILLIAMSVILLE, N.Y., Jan. 11, 2022 (GLOBE NEWSWIRE) -- Today, Seneca Resources Company, LLC (Seneca), the Exploration and Production segment of National Fuel Gas Company (NYSE: NFG) (National Fuel or the Company), announced it has achieved certification of
As part of the certification process, a team of accredited auditors from Geosyntec, representing a variety of technical and social backgrounds, conducted an independent, third-party audit of Seneca’s Pennsylvania operations to assess its alignment to 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. Audit activities included a thorough examination of Seneca Resources’ documented programs, a field assessment of its operations, and 30 interviews with internal and external stakeholders.
Soledad Mills, CEO, Equitable Origin said, "We are delighted to announce that Seneca has achieved EO100™ certification of its Appalachian operations, demonstrating its social and environmental responsibility as well as a commitment to continuous improvement. Seneca’s certification will expand the supply of certified natural gas that the market demands."
“Seneca’s Equitable Origin certification validates our long-standing culture and history of environmental responsibility and community engagement," said Justin Loweth, President of Seneca Resources. “We will continue to embrace new technologies and implement best practices in order to remain on the leading edge of the industry’s sustainability initiatives. In addition, as we look ahead, we expect that the certification of Seneca’s entire Appalachian natural gas base will differentiate our responsibly sourced, low methane-intensity production with end-users and commercial markets.”
About National Fuel Gas Company:
National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. Additional information about National Fuel is available at www.nationalfuel.com.
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 performance targets 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.
About Geosyntec Consultants, Inc.:
Geosyntec is a consulting and engineering firm that works with private and public sector clients to address new ventures and complex problems involving our environment, natural resources, and civil infrastructure. Geosyntec’s dedicated team of ESG and sustainability practitioners assist our clients in building a solid foundation and strategic roadmap that is data-driven and tailored to mitigate business risks, leverage opportunities, and drive long-term business value.
Cautionary Statements
Certain statements contained herein, including statements identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “believes,” “will,” “may,” and similar expressions, and statements other than statements of historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. While National Fuel’s expectations, beliefs, and projections are expressed in good faith and are believed to have a reasonable basis, actual results may differ materially from those projected in forward-looking statements. In addition to other factors, the following are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements: (1) National Fuel’s ability to estimate accurately the time and resources necessary to implement new practices; (2) governmental/regulatory actions and/or market pressures to reduce or eliminate reliance on natural gas; and (3) the other risks and uncertainties described in (i) National Fuel’s most recent Annual Report on Form 10-K at Item 7, MD&A, and Quarterly Reports on Form 10-Q at Item 2, MD&A, under the heading “Safe Harbor for Forward-Looking Statements,” and (ii) the “Risk Factors” included in National Fuel’s most recent Annual Report on Form 10-K at Item 1A. National Fuel disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements or use them for anything other than their intended purpose.
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