HOUSTON – Our Nation’s Energy Future (“ONE Future”) today announced that Flywheel Energy (“Flywheel”) has joined the Coalition. Flywheel is a private exploration and production company formed to acquire and operate large, producing onshore U.S. oil and gas assets with an emphasis on the Fayetteville Shale.
“One of Flywheel’s primary goals is the delivery of sustainable returns through operational excellence,” said Richard Hyde, Executive Director, ONE Future. “Through its participation in the Coalition and the knowledge sharing of our member companies, I have no doubt that Flywheel will easily surpass those goals.”
The ONE Future Coalition is a group of natural gas companies working together to voluntarily reduce methane emissions across the natural gas value chain to 1% (or less) by 2025 and is comprised of some of the largest natural gas production, gathering & boosting, processing, transmission & storage and distribution companies in the U.S. and represents more than 15% of the U.S. natural gas value chain. As a ONE Future member, Flywheel will report its 2020 methane results within the Production sector and hold a seat on the board of directors.
“Flywheel’s mission is to responsibly provide reliable and affordable American energy, while achieving superior risk-adjusted returns for our investors. This includes a commitment to incremental ESG improvements, and more specifically GHG emissions improvements. We are always striving to operate responsibly and keep an open mind towards technological and operational innovation,” said Justin Cope, Flywheel’s Chief Executive Officer. “ONE Future’s alignment with our Mission, is what makes membership a good fit for our company.”
Through the efforts of coalition members, ONE Future has surpassed its one percent goal in each of the three years that it has reported its methane intensity. The 2019 Methane Intensity Report, released in November 2020, registered a 2019 methane intensity number of 0.334%: beating its one percent goal by 67%. This means that methane emissions by coalition members across the natural gas value chain consisted of only about one-third of one percent of all natural gas produced and delivered, demonstrating that the natural gas industry can minimize methane emissions and increase production and throughput while supplying much needed energy to the U.S. and around the globe for years to come.
About Flywheel Energy
Flywheel Energy is a private exploration and production company formed to acquire and operate large, producing onshore U.S. oil and gas assets with an emphasis on the Fayetteville Shale. Flywheel Energy began as Valorem Energy in early 2017 with backing from the Kayne Private Energy Income Fund. In 2017, Valorem acquired interests in the Williston Basin for $285 million, and subsequently sold those interests to Northern Oil & Gas in 2019.
In December 2018, Flywheel acquired Southwestern Energy’s upstream and midstream businesses in Arkansas’ Fayetteville Shale for $1.865 billion. Flywheel entities have made over $2.1 billion of acquisitions since 2017. For more information visit Flywheelenergy.com.
About ONE Future
ONE Future was formed when seven companies came together in 2014 with a focus to collectively achieve a science-based average rate of methane emissions across our facilities equivalent to one percent (or less) of total natural gas production. Since our formation, we have grown to more than 45 companies accounting for some of the largest natural gas producers, transmission, and distribution companies in the U.S. ONE Future members operate in 13 out of the 38 production basins and other segments of the value chain operate in multiple regions of the country, hence ONE Future’s data represent a geographically diverse and material share of the U.S. natural gas supply chain.
Its members include Antero Resources, Apache, Ascent Resources, Atmos Energy, Berkshire Hathaway Pipeline Group, BKV Corporation, Black Hills Corporation, Blue Racer Midstream, Boardwalk Pipeline Partners, LP, Caerus Oil & Gas, Crestone Peak Resources, Crestwood, Consolidated Edison, Inc., Dominion Energy, DTE Energy, Duke Energy, EagleClaw Midstream, Enbridge, Encino, Enstor, Equitrans Midstream, Flywheel Energy, Hess, Jonah Energy, Kinder Morgan, National Grid, New Jersey Natural Gas, Northeast Natural Energy, NW Natural, ONE Gas, ONEOK, Sempra Energy, Sheridan Production Partners, Southern Company Gas, Southern Star, Southwestern Energy, Spire Energy, Summit Utilities, Targa Resources Corp.,TC Energy, Tug Hill Operating, UGI, Western Midstream, Williams, and Xcel Energy. For more information visit www.onefuture.us.
Media Contact ONE Future:
Beverly Jernigan
713-494-1733
[email protected]
Media Contact Flywheel Energy:
405-702-6991
[email protected]