US-based Comstock aims for gas production certification
US gas producer Comstock Resources said November 3 that it will use the MiQ standard to certify its natural gas production from Louisiana and Texas.
“Comstock will use the MiQ standard, a framework that assesses and grades methane emissions intensity, enhanced monitoring technology deployment and operating practices that promote a culture of emissions management and continuous improvement, for its facilities in North Louisiana and East Texas, which currently produce approximately 2.0bn ft3/day of natural gas,” the company explained.
MiQ and Project Canary are initiatives meant to ensure gas producers are operating in coordination with broad-based climate initiatives. US president Joe Biden introduced sweeping legislation from the sidelines of the COP26 environment summit in Glasgow that would, if approved, require a significant cut in methane emissions from the oil and gas industry over the past decade.
MiQ in response said that incentivising businesses to improve their environmental footprint “makes good climate – and business – sense.”
Biden’s proposal may face hurdles, though, because of a proposed fee on venting and flaring of associated gas.
Comstock last month entered into a definitive agreement with Minnesota-based Northern Oil & Gas to sell its interests in more than 400 non-operated wells in the Bakken shale for $154mn in cash.
Comstock’s recent production from Bakken was around 4,500 barrels of oil equivalent/day, of which 45% was natural gas. Comstock said it planned to use the proceeds to re-invest into its Haynesville shale development programme.
The Haynesville play, situated largely in Louisiana, yields only small amounts of oil, but is the third-largest natural gas producer behind the Appalachia and Permian basins, respectively.