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Crescent Energy Joins the OGMP 2.0 Initiative for Methane Emissions Reporting, Enhancing the Foundation of its Emissions Reduction Program
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HOUSTON--(BUSINESS WIRE)--
Crescent Energy Company (NYSE: CRGY) today announced its membership in the Oil & Gas Methane Partnership (OGMP) 2.0 Initiative to enhance the company’s reporting of methane emissions. The OGMP 2.0 framework is the leading industry standard for methane emissions reporting, allowing a company to assess its emissions footprint by asset and create targeted emissions reduction programs. By adopting this rigorous reporting standard to quantify methane leaks, Crescent Energy is establishing an operational culture focused on emissions reduction.
“Crescent Energy is meeting today’s energy needs while focusing on a cleaner tomorrow,” said David Rockecharlie, CEO of Crescent Energy. “Reducing methane emissions is critical to slowing climate change impacts, but to best manage methane, we must first measure it. That’s why we are building our climate strategy on high-quality data, gathered through the OGMP 2.0 framework, to inform our emissions reduction efforts.”
The OGMP is an initiative launched by the UN Environment Programme and the Climate and Clean Air Coalition. It is the only broad multi-national and multi-stakeholder partnership working on methane emission measurement and reporting protocols. OGMP creates a credible platform to help member companies demonstrate actual methane emission reductions. Comprised of more than 70 companies representing 30% of the world’s oil and gas production, the OGMP also offers a platform to help member companies share learnings and best practices.
Rockecharlie continued, “Since closing the merger with Contango in early December, we issued our inaugural ESG report, formed an ESG Advisory Council and joined the OGMP 2.0 initiative, which highlights our commitment to being a leader in ESG performance as a newly-formed company.”
About Crescent Energy
Crescent Energy is a well‐capitalized U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states and substantial cash flow supported by a predictable base of production. Our core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy we have employed since 2011. The company’s mission is to invest in energy assets and deliver better returns, operations and stewardship. For additional information, please visit www.crescentenergyco.com.
Cautionary Statement Regarding Forward-Looking Information
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases “should”, “could”, “may”, “will”, “believe”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “goal” and similar expressions identify forward-looking statements and express the Company’s expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the timing and success of business development efforts, and other uncertainties. Consequently, actual future results could differ materially from expectations. The Company assumes no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
crescent energy is a diversified, well capitalized, u.s. independent energy company with a portfolio of assets in key proven basins across the lower 48 states. our core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy we have employed since 2011. our mission is to invest in energy assets and deliver better returns, operations and stewardship. we seek to deliver attractive risk-adjusted investment returns and predictable cash flows across cycles with a focus on operated oil and gas assets and complemented by non‐operated assets, mineral and royalty interests and midstream infrastructure. our approach includes: o employing a differentiated business model combining the best of an investor mindset and deep operational expertise o investing capital with discipline and a focus on cash flow o acquiring and developing a portfolio of low‐risk energy assets o engaging key environmental, social and governance (esg)
