Jonah Energy Completes Responsibly Produced Gas Transaction
DENVER, Nov. 2, 2022 /PRNewswire/ -- Jonah Energy LLC ("Jonah"), one of the leading sustainable natural gas producers in the U.S., has successfully executed a large natural gas sales agreement to provide gold standard certified natural gas to a major US natural gas utility company.
The agreement represents a milestone contract for the United Nations' Oil and Gas Methane Partnership 2.0 ("OGMP 2.0") certified gold standard natural gas, which recognizes the need for a cleaner produced natural gas product in the marketplace. In 2020 Jonah Energy became the first U.S. operator to sign onto OGMP 2.0 and in 2021 was the first U.S. operator to achieve OGMP's gold standard rating for low emissions and maintained the rating in 2022. The OGMP 2.0 certification process is based on the only comprehensive, measurement-based reporting framework for the oil and gas industry that improves the accuracy and transparency of methane emissions reporting.
The one-year agreement is for 50,000 MMBtu/day and is priced at a premium to the applicable market index.
"Natural gas is a critical element of the future clean energy needs of the U.S. and the globe, but the market needs validation of responsible practices across the supply chain. We are pleased to enter into an agreement with a major utility that recognizes the benefit of a differentiated product produced with quantified low emissions and industry-leading conservation practices. Consumers are asking for cleaner energy supported by transparent reporting and stringent emissions management, and we are responding," said Tom Hart, Jonah Energy's president and CEO.
The International Methane Emissions Observatory (IMEO) is the independent auditor of the OGMP 2.0 standards. Jonah Energy is one of two oil and gas representatives on the Advisory Council to the IMEO, representing all OGMP 2.0 members worldwide.
In addition, Jonah Energy and its counterparty are both members of ONE Future, an organization comprised of 56 companies representing the entire US natural gas value chain committed to a performance-based approach to reducing methane emissions.
"Jonah's natural gas is clearly a premium and differentiated product, with benefits in carbon reduction like other low carbon products on the market. This transaction represents a shift in thinking and recognition that the differentiated natural gas market is beginning to take shape," said Howard Dieter, Jonah Energy's vice president – EHS and Strategic Energy Initiatives.
Uplift Energy Strategy structured and negotiated this transaction and served as Jonah's sole marketing agent.
Jonah Energy actively deploys new thinking and technology to reduce emissions. The strategy consists of handheld, drone based and aerial Leak Detection and Repair (LDAR) inspections, utilizing fixed monitors and an artificial intelligence platform to obtain direct emission source detection and quantification.
Jonah Energy's assets and operations are located within the Greater Green River Basin in Sublette County, WY, and consist of over 2,400 producing wells and over 130,000 net acres located in the Jonah Field and surrounding area.
About Jonah Energy LLC
https://www.jonahenergy.com
Jonah Energy is an oil and gas exploration and development company headquartered in Denver, Colorado and operating in the Jonah and Pinedale Fields in Sublette County, Wyoming. The company is one of the largest privately held natural gas producers in the US and focuses on producing natural gas in an environmentally responsible manner.
About Uplift Energy Strategy
https://www.upliftenergystrategy.com/
Uplift Energy Strategy unlocks value for energy producers through physical marketing, midstream expertise, hedge execution, and industry-leading fundamentals analysis. Uplift, through its extensive market network, coordinates with end use participants to realize carbon savings and opportunity for carbon reduction through the purchase of low methane, certified gas.
For further information please contact:
Paul Ulrich
Jonah Energy LLC-Vice-President, Government & Regulatory Affairs
303-330-6346
[email protected]
SOURCE Jonah Energy LLC
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