THE ESG ISSUE
Emerging Technologies HOW THEY IMPACT THE INDUSTRY By Mark Reed, Mustang Cat
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n a drive to increase operational and financial performance, today’s energy industry is striving to lower costs and emissions, and increase operational and financial performance while also developing and implementing ESG reporting. Companies must create low cost, low carbon, low emission strategies with emerging technologies to achieve sustainable goals and be competitive in a global marketplace. The ability to improve existing technologies — and create new ones — provides a path forward for those willing to participate. Developing and implementing a strong ESG strategy is critical for companies to access investor funding and provide a positive integrated influence in the industry. The Council’s ESG Center of Excellence is an excellent resource for developing knowledge and understanding of ESG. The ESG certification program is also a great tool to learn and understand strategy, as well as develop and implement ESG strategies for your company and customers. The ESG certification is a year-long process that delves into all aspects of ESG. I am in the current certification class and truly appreciate the world class training I am receiving. I highly recommend it to all who need to develop their ESG skills. Companies engaged in emerging technologies re-
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Well Servicing Magazine/July 2021
search and development have increasingly focused on ESG goals to access capital in the marketplace. That focus has led to positive results in operational efficiency and cost reduction. The use of natural gas in production has been growing. New technology advances in dual fuel (diesel/natural gas) and 100% natural gas reciprocating engines have made tremendous strides in lowering emissions, operations and maintenance cost. The ability to burn field gas (within fuel specifications) in the dual fuel or 100% reciprocating gas engine slashes fuel costs. The dual fuel engine platform also provides the customer with the ability to avoid downtime by running on diesel fuel if a natural gas source isn’t available. Hydrogen is another fuel source that has been garnering much attention. The ability of reciprocating engines, dual-fuel and 100% natural gas to burn hydrogen was recently demonstrated in Houston, and the results were well received by all in attendance. The following issues are some of the reasons the industry is applying dual fuel Tier 2 and Tier 4 technologies (which also apply to 100% natural gas): • Saving on operating costs by using inexpensive natural gas to replace diesel fuel consumption • Abundance of field gas in various shale plays • Reduction of greenhouse gas footprint • Infrastructure expansion for gas delivery • Drop in fuel/diesel transportation expenses
