Southwestern Energy Expands Leading RSG Well Certification and Monitoring Program Across Entire Operations

Rhea-AI Summary

Southwestern Energy Company (NYSE: SWN) has announced an expansion of its certification program for responsibly sourced gas (RSG) to include its Haynesville production, following a similar initiative in Appalachia. This program highlights the company’s commitment to robust Environmental, Social, and Governance (ESG) practices. Key features include independent certification analyzing five times more data points than competitors, pad-level continuous emissions monitoring, and an expected increase of certified RSG production to over 5 Bcf per day. Completion of certifications is anticipated by March 2022 for Appalachia and late 2022 for Haynesville.

Positive

• Expansion of certification program to Haynesville, improving ESG performance.
• Independent certification involves analysis of 5x more data points than competitors, enhancing credibility.
• Introduction of continuous emissions monitoring can improve operational efficiency and emissions reduction.
• Projected increase in certified RSG production to over 5 Bcf per day supports revenue growth.

Negative

• None.

Positioned to become the largest producer of RSG in Haynesville

SPRING, Texas--(BUSINESS WIRE)-- Southwestern Energy Company (NYSE: SWN) (the “Company” or “Southwestern”) announced the expansion of its Company-wide certification and continuous monitoring of its production as responsibly sourced gas (“RSG”), building upon its previously announced program in Appalachia to include its newly acquired Haynesville position. SWN’s RSG program reflects the Company’s leading Environmental, Social and Governance (“ESG”) performance objectives and aligns with its broader corporate strategy to generate sustainable cash flow from responsible natural gas development.

Key Highlights:

• Independent certification includes analysis of 5x more data points than competing certifications assessing air, land, water, community and operational impacts
• Pad-level continuous monitoring utilizing the most comprehensive emissions detection approach
• Independent certification of the Company’s Haynesville production expected to be completed by the end of 2022; Appalachia certifications expected to be completed in March 2022
• Will increase Southwestern’s total certified responsibly sourced gas to over 5 Bcf per day of gross operated production

“Southwestern Energy’s commitment to obtain third-party certification for our entire portfolio across Appalachia and Haynesville allows our stakeholders to receive independent verification that all of SWN’s production meets and exceeds the highest and most rigorous RSG standards,” said Bill Way, Southwestern Energy President and Chief Executive Officer.

“The ability to monitor emissions from our operations at the pad level is a clear differentiator and will allow SWN to efficiently and effectively reduce emissions. This core initiative is a tangible way SWN is responsibly developing natural gas, which is foundational to a lower carbon future,” continued Way.

Southwestern Energy is utilizing Project Canary’s TrustWell™ standards and Canary X continuous monitoring devices for its entire portfolio in both the Appalachia and Haynesville basins. Project Canary, a Denver-based Public Benefit Corp, is the leading provider of independent environmental performance certification and precise continuous emissions monitoring technology. Project Canary assessment and certification analysis is the most rigorous and comprehensive certification available where engineers and data scientists analyze more than 600 unique data points within 24 operational categories to develop per-well environmental performance scores.

“As the certified gas market evolves, verified, high-fidelity data is a key differentiator to credible and high-quality RSG certifications,” said Project Canary Co-founder and CEO Chris Romer. “Southwestern moves the industry forward on comprehensive ESG performance that the measurement economy requires. The Project Canary certification verifies their commitment to the highest standards in the industry.”

About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S. producer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swn.com/responsibility.

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 www.projectcanary.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220208006147/en/

Southwestern Energy Contact

Brittany Raiford

Director, Investor Relations

(832) 796-7906

brittany_raiford@swn.com

Project Canary Contact

Brian Miller

Brian.miller@projectcanary.com

Source: Southwestern Energy Company

FAQ

What is Southwestern Energy's recent announcement regarding RSG?

Southwestern Energy announced the expansion of its RSG certification program to include its Haynesville production, enhancing its ESG initiatives.

How will the RSG certification impact Southwestern Energy's production?

The certification is expected to increase Southwestern Energy's total certified RSG production to over 5 Bcf per day.

When will the RSG certification for Haynesville be completed?

The independent certification of the Haynesville production is expected to be completed by the end of 2022.

What differentiates Southwestern Energy's RSG certification from competitors?

Southwestern's certification analyzes five times more data points than competing certifications, ensuring comprehensive assessment.