DALLAS and HOUSTON, April 02, 2019 (GLOBE NEWSWIRE) -- Independent Energy Standards Corporation (IES) successfully completed its 2,500th natural gas well facility rating, as part of its TrustWell™ Responsible Gas Program. The rapid scaling of this program has been enabled by proprietary software, which allows the company to efficiently collect, distill, verify and rate environmental and responsibility information with a high degree of integrity.
“Our innovative software platform lets us deepen our commitment to integrity, while allowing us to scale with a rapidly expanding market,” said Jory Caulkins, IES’ CEO. “Scalability is critical. It opens the market to a broader range of energy buyers looking to make good on commitments for responsible gas and energy procurement.”
The 2,500th TrustWell Rated well was part of the second phase of work IES completed for Carbon Creek Energy, a leading producer of natural gas in Wyoming’s Powder River Basin. The company announced a landmark responsible gas transaction last fall, enabled by TrustWell Ratings in partnership with Xpansiv’s Intelligent Commodities™ platform.
“We are excited to continue leading with IES, Xpansiv and our other partners by providing credibly differentiated TrustWell Responsible Gas,” said Chris Ginsbach, Carbon Creek VP of Finance. “We can now transact on our differentiated production with high credibility and at scale for buyers, which has significant benefits for our company and the market.”
IES’ TrustWell™ evaluates a wide range of impacts and risks to calculate a responsibility score and rating tier, per producing well, including: Rated, Silver, Gold and Platinum. Categories evaluated include water, air, land and community; emissions and methane, leaks and spills, well integrity, water sourcing and multiple others. The ratings combine an inherent risk profile per facility with a score for operational controls for that facility to determine an overall performance score.
IES used its software to expedite the collection, processing, verification and scoring of information which otherwise would have taken 10+ times the amount of time to process. This efficiency is important and unique to IES because it allows high quality and high integrity output, but simultaneously significantly reduces the cost and time associated with onboarding facilities and production into the TrustWell™ Responsible Gas Program.
About Independent Energy Standards Corp (IES)
IES is the market-leading independent ratings and analytics provider for risk and responsibility in the oil & gas industry. The company combines deep technical expertise with market mechanisms to economically reward responsible actors. To learn more, visit www.ies.co or contact the company below.