Leaders of Dallas-based Pioneer Natural Resources Company unveiled their firm’s 2021 Sustainability Report this week and announced a higher goal of reduction in methane emissions for 2021.
The company reported it had a 27% reduction in GHG emission intensity and a 50% reduction in methane intensity in 2020 and planned to increase its 2030 goals to a 50% reduction in GHG intensity and 75% reduction in methane intensity.
In 2020, Pioneer achieved a flaring intensity that was 79% lower than its goal to limit flaring to 1% of natural gas produced. As previously disclosed, Pioneer plans to end routine flaring (as defined by the World Bank) by 2030, with the aspiration to accomplish this by 2025.
CEO Scott D. Sheffield stated the company is committed to ensuring it remains an ESG leader.
“We are dedicated to reducing our emissions intensities, being proactive and transparent in our engagement with stakeholders and the communities in which we operate and ensuring our governance policies and performance metrics align with our ESG goals.
The board of directors also adopted a Net Zero ambition by 2050 and stated that many key initiatives are already underway.
The company is adopting a target to cut freshwater use in well completions to less than 25% by 2026 and do so by utilizing reclaimed water in a partnership with the cities of Midland and Odessa, Texas.
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