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    Pioneer expands environmental commitments


The company set a goal of cutting methane intensity by 75% by 2030.

by: Daniel Graeber

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Natural Gas & LNG News, Americas, Energy Transition, Carbon, Corporate, News By Country, United States

Pioneer expands environmental commitments

US energy company Pioneer Natural Resources said September 15 it was doing more to pursue a sustainable future by expanding its environmental commitments.

Pioneer laid out a seven-point sustainability plan that includes everything from commitments to curb flaring of natural gas to pursuing a more diverse employee base. Already making progress on emission abatement, the company said it increased its goal to a 50% reduction in greenhouse gas emissions and a 75% reduction in methane intensity, relative to a 2019 baseline, by 2030.

Pioneer had a previous goal of reducing greenhouse gas emissions intensity by 25% and methane emissions intensity by 40% by 2030.

CEO Scott Sheffield said Pioneer is committed to being a leader in environmental, social and governance programmes.

“These efforts, in conjunction with Pioneer’s low breakeven costs, low-emissions intensity, strong balance sheet and highly-skilled and diverse workforce, position the company for continued long-term success,” he said.

The company reported net income in the second quarter of $380mn, reversing loss of $449mn from the same period last year.

Pioneer, whose operational focus is on the Permian shale basin, reported that second quarter production averaged 629,000 barrels of oil equivalent/day, at the top end of its guidance. Third quarter production is expected to be in the range of 660,000 to 685,000 boe/d. The yearly range is expected at between 605,000 and 631,000 boe/d.