SM Energy Co. on Dec. 20 set new emissions reduction targets and unveiled plans to eliminate routine flaring by 2023.
The new environmental targets set by SM Energy, whose operations are focused in the Permian Basin and Eagle Ford shale plays, were largely driven by the company’s shareholders, according to President and CEO Herb Vogel.
“Feedback from our stakeholders has emphasized the importance of proper stewardship by the upstream sector, particularly in the important areas of flaring, and methane and GHG (greenhouse-gas) emissions,” Vogel commented in a company release on Dec. 20.
SM Energy announced the following targets in the release:
- Zero routine flaring at all SM Energy operations and non-routine flaring not to exceed 1% of natural gas production, each by 2023 based on the full-year average;
- A 50% reduction in Scope 1 and 2 GHG emissions intensity by 2030 with 2019 as the base year; and
- Maintaining its already very low methane emissions intensity at the company’s 2020 level of 0.04 (metric tonnes CH4/Mboe) or better going forward.
“Our environmental strategy incorporates a number of actions, many of which are already underway,” Vogel added, “and which provide a pathway to the achievement of these targets, positioning SM Energy as a leader in environmental performance.”
At present, SM Energy’s investment portfolio is focused in five counties in the state of Texas, specifically the Midland Basin in West Texas and the Maverick Basin in South Texas, according to the company website.
Recommended Reading
Clean Energy Begins Operations at South Dakota RNG Facility
2024-04-23 - Clean Energy Fuels’ $26 million South Dakota RNG facility will supply fuel to commercial users such as UPS and Amazon.
Hirs: Aspirations Meet Reality—The Undisclosed High Cost of the Energy Transition
2024-04-16 - The nation is trying to keep up with the growth of renewable power resources, but before transmission lines can be built, the power plants must first have interconnects with the grid.
Energy Transition in Motion (Week of May 10, 2024)
2024-05-10 - Here is a look at some of this week’s renewable energy news, including $1.5 billion in investment commitments for low-carbon energy initiatives.
First US Utility-scale Offshore Wind Farm Starts Operations
2024-03-14 - The 12-turbine, 130-megawatt South Fork Wind project is a joint venture between Denmark's Orsted and New England-based electric utility Eversource.
Phillips 66 Reaches Milestone at San Francisco Bay Area Refinery
2024-04-02 - By the end of second-quarter 2024, Phillips 66 aims to have the complex finished and producing more than 50,000 bbl of renewable fuels.