Famed auto executive Lee Iacocca once said, “Every business and every product has risks. You can’t get around it.” Exploring for and producing natural gas and oil is no exception. Minimizing and mitigating those risks is a priority for us and we are proud to be recognized for our efforts to manage methane emissions associated with our operations. The investor-focused report, “Disclosing the Facts 2017: Transparency and Risk in Methane Emissions,” is part of an annual survey that assesses how well U.S. and Canadian upstream oil and gas companies manage and disclose risks from operations associated with hydraulic fracturing. The report ranks ConocoPhillips in second place for our progress in reducing methane emissions, with 11 out of 13 possible points. This score represents our best result since Disclosing the Facts started ranking hydraulic fracturing operators in 2013.
Disclosing the Facts also recognized us as one of six “especially strong performers in implementing and disclosing best methane reduction practices.” Those efforts include leak detection and repair procedures, removal of over 300 trucks per day from roads in the Permian Basin, and initiatives to reduce fugitive emissions.
You can read the full report here.