Olympus Energy Seeks Project Canary Upstream and Midstream Certification

PITTSBURGH, Dec. 7, 2021 /PRNewswire/ -- Olympus Energy LLC (Olympus) will be the first integrated exploration and production (E&P) company to seek independent Project Canary certification of its upstream producing and midstream infrastructure assets, the companies announced today. The E&P will seek to have its entire operated production portfolio certified as responsibly sourced, installing continuous monitoring units on each of its producing well pads and pipeline facilities operated by its wholly owned subsidiary Hyperion Midstream LLC.

The agreement to certify its entire operational asset base with Project Canary, the leading provider of trusted, independent environmental performance analysis, aligns with multiple pillars of Olympus's overall Environment, Social, & Governance (ESG) strategy.

"ESG is foundational to everything that we do at Olympus, from site preparation to community giving, so it makes perfect sense to ensure each aspect of our operations are living up to those standards of excellence," Tim Dugan, president and CEO of Olympus Energy said. "Olympus is a purpose-built company with expanding upstream and midstream operations in Allegheny and Westmoreland counties. We view this industry-leading partnership as an example of our mission to grow responsibly and seek new and improved solutions for our operations and stakeholders."

Combined, Project Canary's upstream (TrustWell) and midstream certification programs independently review more than 800 unique operational ESG data points on a per-asset basis; ensuring that each well and facility are independently certified. Operators that achieve best-in-class environmental performance – with metrics graded on a dynamic, ongoing basis – can market their product as certified responsibly sourced.

In addition to seeking Project Canary's certification, Olympus will also install Canary X laser-based continuous emissions monitoring devices on all existing and new producing well pads. These monitors allow for precise emissions measurement, tracking and provide real-time data and alerts.

"This partnership is an important inflection point in the evolution of the certified gas market, as producing and midstream assets are both critical links in the natural gas value chain," Project Canary co-founder and CEO Chris Romer said. "Tackling inadvertent and unwanted methane leaks from infrastructure is just as important as at the wellhead. Olympus should be commended for its holistic, ESG-driven approach to verifying best-in-class operations across its entire operating footprint."

Continuous monitoring installation and well certification across the company's 100,000 largely contiguous acres in Southwestern Pennsylvania are expected to begin in Q1 2022 and be completed within the year.

Olympus Energy Contact:
Kim Price
Communications Director
[email protected]

Project Canary Contact:
Brian Miller
Vice President, Growth and Policy
[email protected]

ABOUT THE PARTICIPANTS:

At Olympus Energy, we strive to actively employ our core values daily, ensuring that we are the natural gas company that communities trust most. Olympus Energy has assembled a large contiguous acreage position in the Appalachian Basin. We currently operate in Allegheny and Westmoreland counties, with an acreage position that expands into Butler and Washington counties. Our position consists of approximately 100,000 net acres positioned in Southwestern Pennsylvania's dry gas core. Visit olympusenergy.com to learn more

Project Canary is an environmental performance analysis firm focused on the E in ESG for emission-intensive companies. We are the leaders in the certification of responsible operations and provide measurement-based methane and emission profiles via continuous monitoring technology that help companies take ESG action. Formed as a Public Benefit Corporation, Project Canary's Denver-based team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards and high-fidelity data. For more information, visit www.projectcanary.com

SOURCE Olympus Energy LLC; Project Canary