Owning our impact.
Our strategy is straightforward. Our emissions are our responsibility, and we are owning our impact. In our commitment to achieving net-zero emissions for our upstream operations by the early 2030s, we are taking concrete steps now to address our emissions first rather than purchasing carbon offsets alone.
Our first purpose-drilled, Class II commercial carbon sequestration well injecting CO2 waste from natural gas processing plants in the United States. With the initial injection, BKV and EnLink will be among the first energy companies to have commercial carbon capture and sequestration operations in the nation.
- Location: Bridgeport, TX
- Initial Injection: November 2023
- Approximate Annual Sequestration Rate: 210,000 metric tons of CO2e
- Daily, Barnett Zero can remove enough carbon to offset the emissions of 45,000 automobiles
CCS in Action
Our intent is to reshape the energy industry by taking climate change seriously. Impatient for innovation, we’re focusing on point-to-point sequestration to capture carbon dioxide and permanently store it deep underground—quickly, safely and profitably—completely offsetting the combustion value of our natural gas.
What is carbon capture, utilization and sequestration?
Carbon capture, utilization and sequestration (CCUS) is the process of capturing and permanently sequestering carbon dioxide, which reduces the amount of pollutive carbon dioxide in the atmosphere. Our process will involve capturing CO2 before it is released into the atmosphere and then compressing and transporting it via pipeline to sites where it can be injected into underground injection control (“UIC”) wells.
Making sustainability our business.
When it comes to sustainability, we mean business. Our dedicated business unit dCarbon Ventures is focused on driving CCUS innovations and project development. With carbon sequestration fundamental to our sustainability plans, we expect dCarbon Ventures to be an area of significant growth for our company.
- Reduced our GHG emissions by 16% from a 2021 baseline, exceeding our reduction goal
- Integrated the Exxon Barnett acquisition into our sustainability goals, maintaining our net zero commitments
- Formalized our wholly owned subsidiary and dedicated CCUS business line, BKV dCarbon Ventures
- Reached Final Investment Decision (FID) with two CCUS projects and created BKVerde to evaluate and develop CCUS projects throughout the United States
- Attained TrustWell Gold certification in the Barnett for 64 pads and 168 wells, and 31 pads and 135 wells for Northeast Pennsylvania (NEPA)
- Performed a gap assessment and continued to move forward with ISO 14001 alignment
- Maintained a workforce TRIR below 0.5
- Expanded our charitable and volunteer partnerships and contributed over $175,000 in social investment
- Introduced a formal internal training portal that holds all required trainings and documents related to IT, cybersecurity, ethics, compliance, Environmental, Health, Safety and Regulatory (EHSR), etc.
- Published a separate Task Force on Climate-related Financial Disclosures (TCFD) report with an updated, comprehensive climate scenario analysis