Olympus Energy LLC has become the latest exploration and production (E&P) firm to claim the distinction of producing 100% certified natural gas after an analysis by Project Canary.
Pittsburgh independent Olympus operates around 100,000 net acres with more than 10 producing wells in Marcellus, Utica and Upper Devonian plays of southwestern Pennsylvania.
Olympus COO Mike Wahl told NGI the certification “adds approximately 140,000 MMcf/d” of certified natural gas to the market. The E&P expects that figure to grow as new production is evaluated by the certification process.
Denver-based assessment company Project Canary gave Olympus platinum ratings, which is a designation that its with sustainability goals are higher than 90% of comparable companies. Project Canary reported Olympus operations achieved the highest marks for environmental stewardship, including methane intensity, emissions reduction and water recycling.
In late 2021, Olympus said it planned to become the first integrated E&P to complete both upstream and midstream certification. Project Canary reported that Olympus met that goal with the completed review of subsidiary Hyperion Midstream LLC at the beginning of July.
Project Canary’s assessments also score firms on emergency response, community engagement and well integrity. Continuous monitoring units were installed on each of the Olympus producing well pads and at Hyperion’s pipeline facilities during the review.
Project Canary CEO Chris Romer said Olympus’ move to certify all operations represents the market demand for gas with differentiated low-carbon profiles. The process also improves environmental, social and governance (ESG) goals.
“Major domestic and international utilities are seeking the premium certified responsibly sourced gas producers like Olympus are offering,” Romer said. “Net-zero requires solutions for low-methane verified environmental attributes and freshwater use, among other ESG markers.”
Olympus, rebranded in 2019, formerly was Huntley & Huntley Energy Exploration LLC, which was formed in 2012 by Huntley & Huntley and sponsored by private equity giant Blackstone.
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July 13, 2022 at 01:37AM
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Appalachian Pure-Play Olympus Certifies All Natural Gas, Midstream Operations - Natural Gas Intelligence
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