(Chesapeake, 17.Jul.2023) — Chesapeake Energy Corporation (NASDAQ: CHK) today announced that it has achieved recertification of its natural gas production across the entirety of its Marcellus operations, which averaged approximately 4.4 billion cubic feet (bcf) of gross natural gas per day during the first quarter of 2023. The company received a grade A under the MiQ methane emissions standard and a grade A- from Equitable Origin‘s EO100™ Standard for Responsible Energy Development, which focuses on environmental, social and governance (ESG) performance.
“These achievements are a testament to our team and our commitment to deliver the affordable, reliable and lower carbon energy the world needs. We take our role in responsible energy production very seriously and are extremely proud of the ability to minimize our environmental footprint across our operating areas and further reduce emissions,” said Chesapeake President and CEO Nick Dell’Osso.
The MiQ standard is graded across a sliding A–F scale based on methane intensity, company practices and methane detection technology deployment. The MiQ certification provides a verified approach to tracking Chesapeake’s commitment to reduce methane intensity across its natural gas assets and supports the company’s net zero GHG emissions goal by 2035.
“Chesapeake’s A grade recertification underscores its commitment to continued emissions reduction in its natural gas production,” said Georges Tijbosch CEO of MiQ. “Methane can be addressed this decade, and MiQ certification is important to understand methane intensity from oil and gas production – providing operators like Chesapeake with credible data that drives market transparency.”
Equitable Origin moved from a pass/fail rating to a letter grade system this year and awarded Chesapeake an A-. To achieve this designation, the company needed to score at least 95% in Equitable Origin’s EO100™ five core principles. This includes corporate governance, transparency and ethics; human rights, social impacts and community investment; indigenous peoples’ rights; fair labor and working conditions; and climate change, biodiversity and environmental impacts.
“The high grade achieved in this assessment is reflective of a demonstrated commitment to transparency and continuous improvement. This example of responsible energy leadership is an important step towards a better, more sustainable future,” said Equitable Origin CEO Soledad Mills.
Chesapeake was the first producer to achieve MiQ and EO100™ certification across two major basins in 2022. The company expects to obtain recertification of its Haynesville assets in December.
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