Wed, 07/07/2021 – 11:00am
Even though everyday the number of oil and gas companies publishing sustainability reports grow, ESG targets aren’t new to the industry, according to Christopher Valdez, CEO of PureWest Energy, a private E&P company focused on the production of natural gas in Wyoming.
“Commitment to the community, safety and environmental stewardship—these are core values for PureWest but also shared broadly throughout the industry,” Valdez said.
“I think it’s just something that we need to change the narrative and make sure that message is getting out in the marketplace,” he added.
E&P companies, both public and private Valdez said, are taking steps now to start reporting their ESG goals and be more transparent. However, he noted these initiatives were already standard operating procedures for operators, particularly in the west, which he said are held to a higher standard being on federal land.
An example Valdez cited is PureWest Energy’s methane intensity rate of 0.04%, which he said the company has achieved for the last two years.
“That wasn’t a target that we put out there—that is just how we are operating,” he said.
“Other operators in the west are performing at a very high level as well,” he continued, “so I think that is something we need to share to the industry more broadly and get that story out.”
During a recent discussion on ESG with Hart Energy’s Emily Patsy, Valdez also spoke on PureWest Energy’s recent rebranding and how it ties into the company’s goal of becoming the supplier of choice through the energy transition in regard to ESG.
“We believe that natural gas is essential to the transition and we want to make sure that we are the most responsible operator and business,” he said.
One of the steps PureWest is taking to achieve this is having all of its gas certified as responsibly sourced through a partnership with Project Canary for its operations focused on .
“That’s something I think you’re going to see more and more operators do going forward,” Valdez said.