Devon Energy announced on 10 June that it plans to cut methane emissions from its US oil and natural gas production operations further.
In a news release, company officials stated they plan to lower detectable emissions at production sites by at least 12.5% in 6 years.
The company measures methane emissions by calculating a methane intensity rate that represents a percentage of natural gas it produces. For 2018, its methane intensity rate was an estimated 0.32% [subject to third-party verification and a review by the US Environmental Protection Agency (EPA)].
Devon officials said they plan to reduce that methane intensity rate to 0.28% or less by 2025, stressing the company is embarking on that plan voluntarily to meet one of its core values of being a good environmental steward by managing climate risk.
“By continuing to operate responsibly and increasing our focus on leak detection and repair, we’re confident we can meet this ambitious target,” said Dave Hager, chief executive officer for Devon.
On 10 June, officials said Devon’s process is comprehensive and transparent because it tracks emissions across all its operated assets, even those where reporting isn’t required by the EPA.
Devon stated it finds methane emissions problems using an infrared-camera-based leak detection and repair process designed to help the company establish best management practices and to identify technology, equipment, and materials to control methane emissions better.
The company also stated that employee and top-level executive compensations will be tied to meeting the announced goal, supplementing already existing short-term emissions performance requirements.
Read the full story here.
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