Environmental, social, and governance (ESG) has become increasingly important in the energy sector. So important that the Pittsburgh Business Times interviewed Range’s CEO, Jeff Ventura, and Senior Vice President, Scott Roy, on the company’s aggressive goals and trailblazing efforts to reduce emissions.
In the cover story, Ventura recognizes the significance of propelling the natural gas industry forward more sustainably.
“It’s good for the environment; it’s good for Range; it’s good for economics and our shareholders,” said Ventura, under whose leadership Range has steadily upped its efforts and goals for a less carbon-intensive future.
While sustainability remains a top priority, Range also holds firm to a pillar of the company: transparency.
“We did all those things long before sustainability reports and environmental reports were where they are today,” Ventura said.
As the first company to disclose frac fluid ingredients and publish air monitoring data, Range has remained focused on building trust and understanding with its stakeholders, community, and employees.
An early example would be Range’s voluntary disclosure of the ingredients in frac fluids, the chemicals that are used during hydraulic fracturing. The industry had long considered frac fluid composition as proprietary, something similar to a secret recipe that wouldn’t be disclosed like Coca-Cola. But Range took a different tack, being the first major player to release the data. (It’s now standard.)
Roy called attention to the extra efforts Range takes in reducing methane emissions, which include quarterly LDAR assessments versus the bi-annual requirement. Moreover, a simple change in tank color from green to white have added to emissions reductions and helps to prevent product loss. Additional efforts that contribute to Range’s 80% greenhouse gas emissions in the last 10 years include the use of an electric frac fleet, increased water recycling, and a decrease in truck traffic.
As one of the first companies in its sector to commit to a net-zero goal by 2025, Range has continued to hold itself and others accountable to continue aggressive ESG and sustainability efforts.
It’s an ambitious goal, one that most oil and natural gas producers have yet to set at any year, much less within five years.
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For more information on Range’s ESG Efforts, visit our Corporate Sustainability website.