Seneca Resources Achieves Responsibly Sourced Gas Certification from Project Canary
National Fuel Gas Company (NYSE: NFG) announced that Seneca Resources has achieved certification for approximately 300 million cubic feet per day of its Appalachian natural gas production under Project Canary’s TrustWell program. This certification arose from an assessment of 121 wells in Pennsylvania, earning 'Platinum' or 'Gold' ratings, indicating low methane emissions and effective water management. About 30% of National Fuel's production can now be marketed as Responsibly Sourced Gas (RSG), enhancing its marketability and demonstrating a commitment to sustainability.
- Certification of 300 million cubic feet per day of Appalachian production under TrustWell program.
- Received 'Platinum' or 'Gold' ratings for all wells in the pilot project, confirming low methane emissions and effective management.
- 30% of total production can now be marketed as Responsibly Sourced Gas (RSG), expanding market opportunities.
- None.
WILLIAMSVILLE, N.Y. and DENVER, C.O., March 03, 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 that it has achieved certification of approximately 300 million cubic feet per day of the Company’s Appalachian production under Project Canary’s TrustWellTM program. This certification is the result of an environmental performance certification pilot with TrustWellTM, which covered 121 of the Company’s natural gas wells in Pennsylvania.
In September 2021, Seneca began Project Canary’s rigorous assessment process, which included review of over 600 data points across air, land, water, and community criteria. Upon completion of this assessment, Seneca earned “Platinum” or “Gold” ratings for all of the wells in the pilot. These ratings confirm a demonstrated commitment to environmental stewardship through low methane emissions, effective water management, and well integrity programs, among other key operational areas. Seneca also deployed Canary X continuous emissions monitoring units on select pads, which accompany high-grade leak detection monitors that are installed as part of Seneca’s standard pad design.
With this certification, production from these 121 wells, representing approximately 30 percent of the Company’s natural gas production, can be marketed as Responsibly Sourced Gas (RSG) under Project Canary’s TrustWellTM program, a distinctive classification verifying natural gas is produced in the most environmentally responsible manner.
“Receiving such high marks from Project Canary, a top ESG assessment firm, demonstrates Seneca’s deep commitment to sustainability and best-in-class operations,” Justin Loweth, President of Seneca, said. “This certification, which is in addition to previously announced certifications, further differentiates our sustainably produced natural gas and opens additional opportunities to participate in the rapidly evolving RSG market.”
“This pilot project covered a broad set of wells varying in age and Seneca’s high marks are a testament to the company’s rigorous environmental, health and safety program,” said Project Canary co-founder and CEO Chris Romer. “Actual measurement and dedicated action are critical to ensuring the cleanest natural gas molecules possible are powering society and we’re committed to being the trusted solution to help companies measure, mitigate emissions and validate performance.”
A mission-driven public benefit corporation, Project Canary delivers trusted and reliable independent energy ESG data by rigorously assessing environmental performance and utilizing continuous emissions monitoring technologies that help companies minimize emissions and achieve best-in-class performance. Project Canary’s differentiated TrustWellTM certification process independently analyzes 600+ data points across the ESG spectrum on a well-by-well basis to create a dynamic score.
Certifications received from this partnership are in addition to a recently announced certification that designated
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 Project Canary
Project Canary is an environmental performance analysis firm focused on the E in ESG for emission-intensive companies. We are the leaders in the certification of responsible operations and provide measurement-based methane and emission profiles via continuous monitoring technology that help companies take ESG action. Formed as a Public Benefit Corporation, Project Canary’s Denver-based team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards and high-fidelity data. For more information, visit projectcanary.com.
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.
FAQ
What is the significance of National Fuel Gas Company's recent certification in March 2022?
How much of National Fuel's production is certified as Responsibly Sourced Gas?
What are the ratings received by Seneca Resources from Project Canary?
What does the TrustWell certification entail?
When did Seneca Resources begin the certification process with Project Canary?
