The third-party proof of performance further strengthens POCO’s ESG commitment to providing reliable and affordable energy while enhancing local community (Adams County) well-being.
DENVER–(BUSINESS WIRE)–POCO Holdco, LLC (“POCO”), a privately held energy production company with offices in Colo. and Texas and operations in the Denver-Julesburg Basin, announced today that it has achieved Project Canary’s Platinum environmental scores, its highest possible environmental assessment rating, for 100% of its 22 operated horizontal wells in Colo.
Project Canary, an environmental data and software company, utilizes its comprehensive Environmental Assessment program to review and analyze climate attributes, engineering principles, and social performance of individual wells and facilities in the Permian Basin of Texas and the DJ Basin of Colo. for POCO in 2022. This climate attribute data, combined with Project Canary’s total site-level emissions data, help to inform operational, investment, safety, and reporting actions.
Project Canary offers the most rigorous and comprehensive environmental risk assessment, where engineers and data scientists analyze more than 600 unique aspects within 24 operational categories to develop per-well environmental performance scores. POCO relies on the TrustWell by Project Canary framework for its 22 horizontal wells on two well sites in the Denver-Julesburg Basin. POCO intends to utilize Project Canary’s Environmental Assessment program in the second quarter of 2023 on an additional facility that is currently under construction. This will add a third wellsite and four additional wells.
Frederick Witsell, POCO’s Chief Operating Officer, commented, “POCO is a new operator in the DJ Basin with the unique opportunity to design and operate our production facilities in accordance with the new Colo. emissions and environmental rules. POCO’s facilities have been engineered to minimize our carbon footprint and materially reduce or eliminate methane emissions through our innovative facility design and direct delivery of products to underground pipelines. Our facilities not only produce and deliver responsibly sourced energy, but they are also monitored 24/7 for safe and secure operations.” Mr. Witsell concluded his statement by saying, “Our Platinum rating from Project Canary is an example of our ESG commitment to our contractors, employees, the surrounding Colo. Communities and beyond.”
“The gas market continues to evolve. Buyers are signaling that molecule characterization using low-methane and other climate attributes differentiate USA-natural gas at a time when access, affordability, and reliability are crucial, while also meeting climate goals. Operators like POCO are intentional about reducing their environmental footprint by constructing pads differently from the start, and then ensuring high standards by continuously monitoring for emissions,” said Tanya Hendricks, Chief Commercial Officer, Project Canary.