Chevron Achieves Top Certification Scores for Environmental Performance

June 29, 2022 08:00 AM Eastern Daylight Time HOUSTON & DENVER--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced that the company's participating North American upstream assets earned Project Canary's highest ratings on operational and environmental performance. Project Canary's independent analysis was conducted on Chevron assets in Texas and Colorado by the Denver-based climate tech and environmental assessment company.

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As a result of the certification process, 82 wells achieved 'Platinum' status and 3 wells received 'Gold' status, Project Canary's highest ratings and confirmation of Chevron's industry-leading practices, including continuous monitoring. Chevron plans to market RSG from the certified assets in the second half of 2022.

'This certification is an important milestone in our journey to deliver affordable, reliable, ever-cleaner energy to a growing world. Chevron deploys several technologies to detect and measure methane emissions and certified responsibly sourced gas is part of our broader commitment to lowering the carbon emissions intensity of our operations,' said Steve Green, president, Chevron North America Exploration and Production. 'In addition to demonstrating transparency, an independent assessment provides validation of our current practices and insights to inform and shape how we continue to achieve our lower carbon aspirations.'

The pilot project focuses on two sites in the Midland Basin of the Permian in Texas and three sites in Chevron's Mustang Development Area of the DJ Basin in Colorado. The five sites produce a total of approximately 80 million cubic feet of natural gas per day. Project Canary's TrustWell™ program accounts for operational impacts on water, air, land, and community.

'The results of our independent assessment and certification of Chevron's operations in the Permian and DJ basins demonstrate strong performance across its operating assets, positioning Chevron in the fast-emerging markets for differentiated gas,' said Chris Romer, CEO and co-founder, Project Canary. 'Buyers of RSG certified by Project Canary can have confidence that each producing well has been reviewed and verified for aspects of Chevron's environmental and social performance.'

In 2020, Chevron's U.S. onshore production methane intensity was 85% lower than the U.S. industry average. The company continues to design, construct, and operate facilities with strategies to limit fugitive emissions. For example, it has reduced fugitive methane and volatile organic compound emissions in U.S. onshore operations through leak detection and repair, low-/no-emissions pneumatic devices, and centralized production facilities in addition to utilizing continuous monitoring. The company is also expanding its methane detection capabilities to identify the best opportunities to further lower emissions and is on track to reduce methane emissions intensity by more than 50% from 2016 levels by 2028.

About Chevron

Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

About Project Canary

Project Canary is a SaaS-based data analytics company focused on accurate corporate climate ESG data for emission-intensive industrial companies. We are the leaders in holistic environmental assessments (air, water, land, and community). Project Canary scores responsible operations, delivering independent emission profiles via high-fidelity continuous monitoring technology to provide actionable environmental performance data. Our sensor portfolio includes high-fidelity spectroscopy-based methane detection and emissions quantification for the oil and gas sectors, plus Aeris Technologies' laser-based gas analyzers covering other emissions, including ethane, nitrous oxide, formaldehyde, ethylene oxide, benzene, and more. Formed as a Public Benefit Corporation, Project Canary's Denver-based team of scientists, engineers, and seasoned industry operators identify and quantify areas to reduce emissions. www.projectcanary.com