Chesapeake Energy achieves grade “A” recertification for natural gas production across Marcellus operations

World Oil Staff July 17, 2023

(WO) – Chesapeake Energy Corporation has achieved recertification of its natural gas production across the entirety of its Marcellus operations, which averaged approximately 4.4 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.

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.

"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," said Georges Tijbosch CEO of MiQ.

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.

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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