Chesapeake Energy reported it has managed an 80% reduction in its methane emissions from company operations since 2020.
The revelation was included in Chesapeake’s 2023 Sustainability Report released on Tuesday. It was the firm’s 12th year reporting on its environmental, social and governance (ESG) performance.
Chesapeake said the reporting reflects its commitment to transparency, enhanced disclosures and measurable progress.
“We believe in a future where responsible energy production supports global climate ambitions and meets the needs of worldwide energy demand,” said Nick Dell’Osso, Chesapeake’s President and Chief Executive Officer.
“Chesapeake is proud to serve as a solution to today’s energy challenges, accomplishing significant operational and organizational milestones while maintaining our high standards of sustainability performance. As you’ll read in our sustainability reporting, our team is committed to supporting energy security and global prosperity, while reducing emissions and maintaining safe operations.”
Specific 2023 sustainability highlights include:
- Achieved its 2025 climate targets on pathway to net zero: By year-end 2023, the company reduced its Scope 1 and Scope 2 GHG emissions intensity to 2.1 mtCO2e / gross operated mboe produced — beating its target of 3.0 mtCO2e / gross operated mboe produced and demonstrating a more than 60% reduction since 2020.
The company followed this same trend with Scope 1 and Scope 2 methane emissions intensity, achieving 0.02% volume methane emissions / gross operated natural gas produced. This was the company’s 2025 target and represents a more than 80% reduction in methane emissions intensity from 2020.
These targets are in support of the company achieving net zero greenhouse gas (GHG) (Scope 1 and 2) by 2035. Scope 1 emissions are greenhouse gases a firm puts into the air with its own property, inccluding the burning of oil or gas to heat buildings. Scope 2 emissions come from electricity
- Joined OGMP 2.0: The company joined the Oil and Gas Methane Partnership (OGMP) 2.0 to improve the transparency and accuracy of its methane emissions reporting.
- Recertified all assets as 100% RSG: In 2022, Chesapeake was the first company to certify its natural gas production as responsibly sourced gas (RSG) across two major basins. The company continued this commitment by recertifying its entire portfolio in 2023.
- Strengthened safety programs, delivered best-in-class safety performance: In 2023, Chesapeake improved its year-over-year combined TRIR by 42%, ending the year with a combined TRIR of 0.14. The company attributes its strong 2023 safety performance to partnering with high-performing service providers and enhancing the oversight of field operations.
Chesapeake also implemented a new program focused on identifying worksite hazards that have the potential to seriously injure on-site workers. The company’s Serious Incident and Fatality (SIF) prevention program has included targeted training for all levels of employees, including senior leadership, to help better identify high risk activities and implement critical controls to limit exposure.
- Dedicated community engagement to increase accessibility: Both the company’s Marcellus and Haynesville stakeholder engagement teams hosted local, in-person meetings with landowners, elected officials and community partners to encourage transparent communication and feedback. In the Haynesville, the team hosted lunch and learns in every parish where Chesapeake operates.
The 2023 Sustainability Report and the 2023 Climate Report are available for download here. Both can also be accessed on Chesapeake’s website at chk.com under the “Sustainability” section.
