Vine Energy Inc., whose production focus is the Haynesville Shale, said it plans to certify 100% of its output as responsibly sourced gas (RSG).
The independent reached an agreement for monitoring company Project Canary to begin the certification process of all the producing wells starting in November. In addition, Project Canary would provide continuous emissions monitoring devices across locations representing 25-30% of the natural gas production targeting both domestic and international RSG markets.
“Since Vine’s inception, we have demonstrated an unwavering commitment to environmental stewardship,” said CEO Eric Marsh. “In the past three years alone, we’ve reduced our methane intensity by 62% and our greenhouse gas intensity by 35%, all while growing production nearly three times over the same period.”
The Plano, TX-based independent earlier this year took the company public to secure more investor interest in its 227,000 net-acre stronghold in the Haynesville and Mid-Bossier formations. Sponsor Blackstone Group LP remains the biggest shareholder.
Marsh in May said Vine is targeting international liquefied natural gas (LNG) markets, where consumers increasingly desire low-emissions cargos.
“The evolution to clean LNG is quite remarkable,” Marsh said at the time. “Given the leading environmental profile of Vine’s acreage and our environmentally sensitive practice, we are ready to step in to meet the world’s energy needs,” with “responsibly produced” gas, he said.
[Want to know how global LNG demand impacts North American fundamentals? To find out, subscribe to LNG Insight.]
Vine’s total production is growing and was estimated at 945 MMcf/d in the first quarter.
Project Canary CEO Chris Romer said, “Vine Energy is a well recognized leader in the Haynesville and we are proud to be working with them to extend their operational and environmental performance goals and objectives.”
Project Canary is working with the upstream, midstream and downstream sectors to certify operations across the United States as demand for environmentally differentiated energy products grows.
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August 05, 2021 at 02:26AM
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Haynesville-Focused Vine Set to Certify Natural Gas as 100% Responsibly Sourced - Natural Gas Intelligence
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