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Exec says the gas industry is largely in denial about the need for rebranding.
There is no shortage of acronyms in the natural gas industry, with perhaps some of the best-known ones being LNG, NGL, CNG, and LPG. A Denver-based environmental services firm aims to make another three-letter abbreviation – RSG – commonplace in the industry.
Short for “responsibly sourced gas,” RSG is a designation from a third party verifying that gas was produced with high environmental and social standards.
“RSG is the beginning of a multi-year appropriate rebranding of natural gas,” Chris Romer, CEO and co-founder of Project Canary – the independent third party ensuring that gas meets strict criteria on behalf of clients such as utilities and LNG buyers. “It’s reestablishing the appropriate brand equity with natural gas.”
Evolution Gains Barnett Foothold with $23M Tokyo Gas Deal
Houston-based Evolution Petroleum Corp. is set to enter the Barnett Shale in North Texas with the acquisition of 23,000 net acres from Tokyo Gas Americas Ltd.
Evolution said Wednesday it would pay $23.25 million for the nonoperated position, which currently produces about 22 MMcf/d of natural gas and 13,000 b/d of liquids. In percentage terms, 70% of the production to be acquired is gas and 30% is liquids. Blackbeard Operating LLC, which is backed by private equity firm NGP, is operator of a majority of the assets.
Evolution CEO Jason Brown said the deal would amount to a 75% increase to the company’s current production.
Dublin, April 01, 2021 (GLOBE NEWSWIRE) The "Natural Gas Distribution Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been.