Seneca Resources and NexTier to Collaborate on Comprehensive Emissions Testing for Well Completion Operations
July 12 2021 - 7:15AM
Today, Seneca Resources Company, LLC (“Seneca”), the exploration
and production segment of National Fuel Gas Company (NYSE: NFG),
and NexTier Oilfield Solutions Inc. (“NexTier”) (NYSE: NEX)
announced their intent to pioneer an innovative study evaluating
the carbon emissions generated by various types of equipment
commonly used for hydraulic fracturing of oil and natural gas
wells. The results of this study are expected to provide the
industry with a comparative insight on the emissions profile of
these technologies, including those utilizing Tier 2 diesel and
dynamic gas blending (DGB) engines, Tier 4 diesel and DGB engines,
natural gas-powered turbine engines, and electric frac equipment
powered by natural gas-fueled reciprocating engines.
This carbon emissions assessment is expected to be the most
comprehensive testing of real-time well stimulation operations
performed within the industry to date, with independent third-party
testing to be performed for each of these technologies during
Seneca’s field operations. The planned emissions testing will
follow EPA-recommended procedures, with the equipment and
completions solutions to be operated by NexTier.
“Seneca is keenly focused on limiting our environmental impact,
including looking for ways to further reduce greenhouse gas
emissions generated by our operations,” said Justin Loweth,
President of Seneca. “The testing to be performed over the coming
months will provide comparative fact-based emissions data to
support Seneca’s efforts to select equipment that best satisfies
our commitment to long-term sustainable operations. We look forward
to working with NexTier on this initiative, with the respective
companies sharing a commitment to leading ESG performance.”
"The NexTier team continues to demonstrate its leadership in
providing low-cost, low-carbon solutions for top oil and gas
producers like Seneca," commented Robert Drummond, President and
Chief Executive Officer of NexTier. "The comparative emissions data
captured during these real-time well completion operations will
assist NexTier in informing and crafting equipment solutions that
ensure our customers achieve their emissions reduction and
sustainability objectives. We commend Seneca for their leadership
and commitment to responsible operations."
About National Fuel Gas Company:
National Fuel Gas Company is a diversified energy company
headquartered in Western New York that operates an integrated
collection of natural gas and oil assets across four business
segments: Exploration and Production, Pipeline and Storage,
Gathering, and Utility. Seneca Resources Company, LLC is the
exploration and production segment of National Fuel Gas
Company.
About NexTier Oilfield Solutions:
Headquartered in Houston, Texas, NexTier is an industry-leading
U.S. land oilfield service company, with a diverse set of well
completion and production services across the most active and
demanding basins. Our integrated solutions approach delivers
efficiency today, and our ongoing commitment to innovation helps
our customers better address what is coming next. NexTier is
differentiated through four points of distinction, including safety
performance, efficiency, partnership, and innovation. At NexTier,
we believe in living our core values from the basin to the
boardroom, and helping customers win by safely unlocking
affordable, reliable, and plentiful sources of energy.
NFG Contacts:
Kenneth Webster
Analyst Contact
716-857-7067
Rob Boulware
Media Contact
412-548-2572
NEX Contact:
Kenneth Pucheu
Executive Vice President - Chief Financial Officer
Marc Silverberg
Partner (ICR)
marc.silverberg@icrinc.com
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