PR Newswire | Apr 13, 2021 09:03AM EDT

Gas Partnership

04/13 08:00 CDT

Chesapeake Energy and Project Canary Announce Multi-Basin Responsibly Sourced Gas PartnershipWith Project Canary's independent, trusted technology, Chesapeake Energy will produce responsibly sourced gas from Marcellus and Haynesville shale plays DENVER and OKLAHOMA CITY, April 13, 2021

DENVER and OKLAHOMA CITY, April 13, 2021 /PRNewswire/ -- Project Canary and Chesapeake Energy Corporation (NASDAQ: CHK) launched a pilot partnership to produce certified responsibly sourced natural gas (RSG) at select well pads in the Marcellus and Haynesville shales, the companies announced today.

Chesapeake Energy will produce RSG using Project Canary's continuous on-site emissions monitoring technology and TrustWell(tm) certification process, which provides third party verification that the operator has utilized the highest standards and practices in all phases of their operations.

"Leading a responsible energy future is foundational to Chesapeake's success," said Chesapeake's Chief Executive Officer Doug Lawler. "Through this two-basin partnership, we will be able to further demonstrate our commitment to generating shareholder value and ESG excellence. We are excited to work with Project Canary as we continue to expand our sustainability efforts and deliver top operating performance."

The initial agreement between Chesapeake and Project Canary includes select well pads in northeast Pennsylvania and northwest Louisiana, though the partnership may be expanded based on initial findings and market conditions. Using real-time, continuous emissions monitoring at well pads, the pilot project aims to validate the high environmental standards by which natural gas is produced and that a market exists for differentiated RSG products.

A Denver-based B-Corp, Project Canary provides emissions monitoring data and related technologies, and has developed a unique wellhead to burner-tip pilot that can be used across the energy value chain - from the production, transmission and marketing of RSG.

"With our innovative technology and independent certification process, Project Canary aims to meet the market demand for sustainably developed resources and real-time emissions monitoring,"said Project Canary co-founder & CEO Chris Romer. "Chesapeake is an industry pioneer and top producer, and we're proud to help them reach the highest environmental standards."

This project marks more than two-dozen agreements Project Canary has entered with exploration and production companies, reflecting the strong and growing demand for the company's innovative environmental performance solution based on trusted, independent data.

Project Canary Contact:Brian MillerVice President, Growth and PolicyBrian.Miller@ProjectCanary.com

Chesapeake Energy Contact:Gordon PennoyerDirector - Communications & Investor RelationsMedia@chk.com

About the Pilot Participants

Project Canary, an International Environmental Standards company based in Denver, Colorado, is a mission-driven B-Corporation accountable to a double bottom line of profit and the social good. Project Canary believes it is possible to create a financially successful, self-sustaining business that "does well and does good." Project Canary's goal is to mitigate climate change by helping the oil and gas industry operate on a cleaner, more efficient, more sustainable basis. Project Canary partners with the Colorado School of Mines Payne Institute to develop a collaborative environment for oil and gas companies and external parties to share best practices and insights garnered through continuous monitoring. To learn more, visit projectcanary.com.

Headquartered in Oklahoma City, Chesapeake Energy Corporation's (NASDAQ: CHK) operations are focused on discovering and responsibly developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States.

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SOURCE Project Canary