Our carbon.
Our commitment.
No more passing the buck. It’s time for energy companies to own their impact. As of November 2023, BKV's first carbon capture and sequestration (CCS) project is officially online.
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 Scope 1 and Scope 2 emissions for our owned and operated upstream and natural gas midstream operations by the early 2030s, we are taking concrete steps now to address our emissions first rather than purchasing carbon offsets alone.
Barnett Zero
Our first purpose-drilled, Class II commercial carbon sequestration well injecting CO₂ waste from natural gas processing plants in the United States. BKV and EnLink are 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: 185,000 metric tons of CO₂e
- Daily, Barnett Zero can remove enough carbon to offset the emissions of 40,000 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.
Sustainability is more than just a word.
- Commenced commercial sequestration of carbon dioxide (CO₂) at BKV’s first Carbon Capture and Storage (CCS) project, referred to as Barnett Zero. Barnett Zero was among the first purpose-drilled, Class IIcommercial carbon sequestration wells in the nation with a U.S. Environmental Protection Agency (EPA) approved Monitoring, Reporting and Verification(MRV) plan and sequestration operations that involve the injection and permanent sequestration of CO₂ waste from a nearby natural gas processing plant.
- As part of our net zero journey, we intend to develop and operate additional CCUS projects to sequester CO₂ emissions in order to offset our scope 1, 2 and 3 emissions from our owned and operated upstream and natural gas midstream operations.
- Completed implementation of elements of our Pad of the Future program (POTF) on approximately [3,200] of our existing wells. As a result, we have achieved a reduction in our estimated annual GHG emissions of approximately 520,000 metric tons per year of CO₂ equivalent (CO₂e) since commencement of POTF in 2021.
We have completed the POTF program across all our owned and operated upstream assets in NEPA.
POTF specifically focuses on reducing methane emissions.
- For the third consecutive year, we have achieved our target of maintaining a workforce TRIR below 0.5 with no major incidents; we achieved a TRIR of 0.42 in 2023 and have averaged a TRIR of 0.21 over the past three years.
- Redesigned our Safety Committee program to be representative of and driven by our frontline workers.
- Implemented integrated technology infrastructure to further enhance monitoring of GHG emissions data, including those related to CCUS.
Launched an enhanced user interface experience to drive more participation in career advancement tools and planning.
Invested $170,000 in local nonprofits across Colorado, Texas and Pennsylvania.