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Southwestern (SWN) to Install Emission-Monitoring Devices
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Southwestern Energy Company (SWN - Free Report) signed an agreement with Project Canary to obtain responsibly sourced gas (“RSG”) certification for its entire natural gas production through the latter’s TrustWell standards and continuous emission monitoring in the Appalachia basin.
Notably, Project Canary is the leading provider of continuous environmental monitoring technology, which measures greenhouse gas emissions in real-time for the oil and gas industry.
Per the terms of the agreement, Project Canary will examine the company’s Appalachia wells to verify that they satisfy certain environmental protection requirements. Moreover, Project Canary will install emission-monitoring devices in all of the company's pad sites. Notably, Southwestern will be the first company to have monitoring devices and certification on all of its pads.
The agreement expands the company’s existing partnership with Project Canary toward responsibly sourced natural gas, which started in 2017. Once finished, it is expected to increase Southwestern’s verified gross production to more than 3 billion cubic feet per day.
Southwestern’s decision to seek environmental certification was made as investors brought on immense pressure on oil and gas companies to combat climate change. Companies like Kinder Morgan Inc. (KMI - Free Report) and EQT Corporation (EQT - Free Report) also partnered with Project Canary to utilize the latter’s environmental monitoring data and technology to measure emissions.
The agreement is a major victory for Project Canary, which has been working with Appalachian natural gas producers to continuously monitor emissions of methane. Notably, the partnership marks more than three dozen agreements Project Canary has signed with other companies across the energy industry, reflecting the rapidly increasing market for RSG.
The authorization process for the agreement is expected to initiate in July 2021, with all documentations anticipated to be complete by early 2022.
Company Profile & Price Performance
Headquartered in Houston, TX, Southwestern is an upstream company, which engages in the exploration, development and production of natural gas, crude oil and natural gas liquids in the United States.
Shares of the company have underperformed the industry in the past six months. The stock has gained 73.6% compared with the industry’s 77.9% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
Southwestern currently carries a Zack Rank #3 (Hold).
Repsol’s 2021 earnings are expected to increase 12.4% year over year.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
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Image: Bigstock
Southwestern (SWN) to Install Emission-Monitoring Devices
Southwestern Energy Company (SWN - Free Report) signed an agreement with Project Canary to obtain responsibly sourced gas (“RSG”) certification for its entire natural gas production through the latter’s TrustWell standards and continuous emission monitoring in the Appalachia basin.
Notably, Project Canary is the leading provider of continuous environmental monitoring technology, which measures greenhouse gas emissions in real-time for the oil and gas industry.
Per the terms of the agreement, Project Canary will examine the company’s Appalachia wells to verify that they satisfy certain environmental protection requirements. Moreover, Project Canary will install emission-monitoring devices in all of the company's pad sites. Notably, Southwestern will be the first company to have monitoring devices and certification on all of its pads.
The agreement expands the company’s existing partnership with Project Canary toward responsibly sourced natural gas, which started in 2017. Once finished, it is expected to increase Southwestern’s verified gross production to more than 3 billion cubic feet per day.
Southwestern’s decision to seek environmental certification was made as investors brought on immense pressure on oil and gas companies to combat climate change. Companies like Kinder Morgan Inc. (KMI - Free Report) and EQT Corporation (EQT - Free Report) also partnered with Project Canary to utilize the latter’s environmental monitoring data and technology to measure emissions.
The agreement is a major victory for Project Canary, which has been working with Appalachian natural gas producers to continuously monitor emissions of methane. Notably, the partnership marks more than three dozen agreements Project Canary has signed with other companies across the energy industry, reflecting the rapidly increasing market for RSG.
The authorization process for the agreement is expected to initiate in July 2021, with all documentations anticipated to be complete by early 2022.
Company Profile & Price Performance
Headquartered in Houston, TX, Southwestern is an upstream company, which engages in the exploration, development and production of natural gas, crude oil and natural gas liquids in the United States.
Shares of the company have underperformed the industry in the past six months. The stock has gained 73.6% compared with the industry’s 77.9% growth.
Zacks Rank & Stock to Consider
Southwestern currently carries a Zack Rank #3 (Hold).
One better-ranked player in the energy space is Repsol SA (REPYY - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Repsol’s 2021 earnings are expected to increase 12.4% year over year.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>