PUREWEST ISSUES REQUEST FOR PROPOSALS FOR THE PURCHASE OF CERTIFIED NATURAL GAS AND ASSOCIATED DIGITAL TOKENS

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DENVER, Jan. 10, 2023 /PRNewswire/ -- PureWest Energy, LLC ("PureWest"), an independent natural gas company based in Wyoming's Green River Basin, today announced a request for proposals (RFP) for the purchase of low-methane, freshwater-friendly certified natural gas. Buyers will also receive blockchain-based Certified Environmental Tokens™ (CETs) containing the environmental attributes associated with the certified gas, made possible through PureWest's recently announced collaboration with EarnDLT ("Earn") and Project Canary.

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Provider:

PR Newswire

Retrieved on:

Tuesday, January 10, 2023

Information

Tags:

Natural gas, Methane, Child, Carbon, RFP, CET, Small Self Administered Scheme, PST, Project, Oil, Green River (Colorado River tributary)

Geotags:

COLORADO

Organisation:

PUREWEST

Summary

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DENVER, Jan. 10, 2023 /PRNewswire/ -- PureWest Energy, LLC ("PureWest"), an independent natural gas company based in Wyoming's Green River Basin, today announced a request for proposals (RFP) for the purchase of low-methane, freshwater-friendly certified natural gas.
Buyers will also receive blockchain-based Certified Environmental Tokens™ (CETs) containing the environmental attributes associated with the certified gas, made possible through PureWest's recently announced collaboration with EarnDLT ("Earn") and Project Canary.
Using book and claim accounting, buyers may use these digital tokens to offset their own environmental impacts, including reducing scope 3 emissions.
Scope 2 emissions can be prorated for an associated volume of gas and may also be offset.

PUREWEST ISSUES REQUEST FOR PROPOSALS FOR THE PURCHASE OF CERTIFIED NATURAL GAS AND ASSOCIATED DIGITAL TOKENS

Digital tokens may be used to reduce buyers' scope 3 emissions

DENVER, Jan. 10, 2023 /PRNewswire/ -- PureWest Energy, LLC ("PureWest"), an independent natural gas company based in Wyoming's Green River Basin, today announced a request for proposals (RFP) for the purchase of low-methane, freshwater-friendly certified natural gas. Buyers will also receive blockchain-based Certified Environmental Tokens™ (CETs) containing the environmental attributes associated with the certified gas, made possible through PureWest's recently announced collaboration with EarnDLT ("Earn") and Project Canary.

Administered by Earn, a blockchain-based emissions accounting system, CETs provide buyers with a comprehensive and irrefutable accounting of the environmental performance associated with producing PureWest gas, 100% of which receives Project Canary environmental risk TrustWell™ assessments. Using book and claim accounting, buyers may use these digital tokens to offset their own environmental impacts, including reducing scope 3 emissions.

Each CET includes an accounting of PureWest's scope 1 methane emissions. The remaining emissions may be offset by registered voluntary carbon offsets. PureWest has also calculated its scope 2 emissions using an independent third party. Scope 2 emissions can be prorated for an associated volume of gas and may also be offset. These scope 1 and 2 carbon-neutral CETs, which package certified gas with registered carbon offsets, are a rigorous and defensible way for buyers to reduce their scope 3 emissions further.

RFP responses are due by 5:00 p.m. PST on January 31, 2023. The RFP and bid instructions are available on the PureWest website at: https://purewest.com/

PureWest invites interested bidders to learn more by registering for a virtual event featuring presenters from Project Canary, and Earn, on January 26, 2023 at 7:00 a.m. PST: https://projectcanary.zoom.us/webinar/register/1716727657775/WN_jt2w15CkQIetm8DK_MNJpQ

About PureWest
PureWest Energy, LLC is a private energy company focused on developing its long-life gas reserves in Wyoming's Green River Basin where the Company controls more than 114,000 net acres in and around the prolific Pinedale and Jonah Fields. PureWest is focused on achieving ever-higher ESG performance as part of its commitment to stakeholders and has an industry leading methane intensity rate of 0.05%, more than two years with zero motor vehicle incidents, and PureWest's employee led community investment program. Additional information is available at PureWest.com.

Media Contact

Kelly Bott, SVP – ESG, Land & Regulatory
[email protected], 303.645.9809

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SOURCE PureWest