Olympus Energy earned the highest possible environmental performance asset-level certifications relying on Project Canary's rigorous, independent environmental assessment process, the company announced July 12. Olympus’ ratings validate the company's best-in-class ESG performance, industry-leading low-methane emissions, community engagement and freshwater programs.
"Every day, the Olympus team works to produce natural gas in the most efficient and environmentally responsible manner possible. This certification validates our commitment," Tim Dugan, president and CEO of Olympus Energy, said in a statement. "We're deeply proud of the results achieved by doing things the right way and continually seek innovative approaches to unlock even better ESG performance."
Project Canary's rigorous analysis of over 800 data point including existing well sites represents the industry's most comprehensive assessment program. Olympus' low-methane verified environmental attribute performance alongside key initiatives including upgrading local infrastructure voluntarily, holding transparent community dialogue, establishing and practicing an industry-leading emergency response program, water recycling initiatives and building a wildlife habitat area contributed to the company's top ratings.
"Net-zero requires solutions for low-methane verified environmental attributes and freshwater use, among other ESG markers," said Chris Romer, co-founder and CEO of Project Canary.
He added, "Not often do we see a producer achieve best-in-class ratings across-the-board like Olympus has. It's a credit to their industry leadership for making environmental integrity fundamental to the business."
Olympus was the first integrated exploration and production company to seek complete upstream and midstream certification, with the Hyperion Midstream review beginning in July.
Recommended Reading
Despite Slowing NAM Activity, Weatherford Declares First-ever Dividend
2024-07-24 - Weatherford reported a softer North America market but strong overseas growth, leading the company’s board to authorize its first share buyback program and first quarterly dividend.
EQT: Non-op Marcellus Assets Pique International Buyers’ Interest
2024-07-24 - EQT Corp. is marketing interests in its upstream and midstream assets in Appalachia as the company reduces debt after a $5.45 billion acquisition of Equitrans Midstream.
Cemvita Rolls Out Biotech to Boost Sustainable Oil Production
2024-07-24 - As part of the Cemvita’s “groundbreaking” microbial waste-to-oil process, the company unlocked new technologies that allow production of up to 500 bbl/d of sustainable oil from crude glycerin at its Houston commercial plant.
Woodside to Emerge as Global LNG Powerhouse After Tellurian Deal
2024-07-24 - Woodside Energy's acquisition of Tellurian Inc., which struggled to push forward Driftwood LNG, could propel the company into a global liquefaction powerhouse and the sixth biggest public player in the world.
Report: TC Energy Close to Selling $726MM Pipeline Stake to Indigenous Groups
2024-07-24 - The Canadian government has given preliminary approval for a loan to indigenous groups to buy a stake in TC Energy’s NGTL pipeline system.