Page 16 - NorthAmOil Week 48 2020

NorthAmOil NEWS IN BRIEF NorthAmOil

about two percent of PG&E’s total storage
inventory capacity.1 A successful sale will
allow ratepayers to avoid decommissioning
and remediation costs.
PACIFIC GAS AND ELECTRIC COMPANY,
December 01, 2020
Humble Midstream secures
initial $300mn capital

commitment from EnCap

extends our liquidity runway on more efficient supplying the world with affordable and Flatrock Midstream
pricing and other terms than we believe we reliable energy. As a company we are
could achieve in the current oil & gas reserve- committed to pursuing emissions reduction Humble Midstream today announced it has
based lending market. It also underscores initiatives across our businesses. We assess secured an initial capital commitment of
the benefit of having Icahn Enterprises as a opportunities and employ new practices that $300mn from EnCap Flatrock Midstream.
supportive major shareholder.” can lower our emissions footprint, including Based in Denver and formed in mid-2020,
SANDRIDGE ENERGY, November 30, 2020 investing in co-generation facilities. We Humble Midstream is an independent energy
recently completed the construction of a co- company focused on acquiring and building
generation facility at our Redwater complex, midstream assets in conventional and
MIDSTREAM which will reduce our emissions intensity, and unconventional plays across North America.
are evaluating similar opportunities at other Its goal is to create value by improving
Pembina Pipeline locations. efficiencies and expanding the customer
We have also launched a process to
base of acquired businesses and/or building
Corporation releases 2020 enhance ESG integration across the company, competitive new assets that serve the needs of
the North American energy market.
including establishing a governance
sustainability report framework to develop a longer-term GHG Steve Huckaby, a 38-year veteran of the
Humble is led by Chief Executive Officer
strategy and emissions intensity reduction
Pembina Pipeline Corporation today released targets. Our targets will guide business midstream industry. “EnCap Flatrock
its 2020 sustainability report. This marks decisions, drive emissions reductions Midstream is the nation’s premier provider of
our second full-length report outlining the and improve overall emissions intensity midstream growth capital and a firm that for
company’s approach, recent performance and performance, while increasing our long- the past decade has demonstrated its ability
our future initiatives for environmental, social term value and resilience. Finally, we believe to be successful in changing markets. We are
and governance (ESG) factors that are most that linking compensation to corporate excited to partner with EnCap Flatrock to
material to our stakeholders and business. The performance on these important factors create a company that provides innovative
2020 report details the company’s progress aligns with long-term value creation and midstream solutions that are safe, reliable,
since 2018 and further establishes Pembina’s our stakeholders’ interests. As such, we are flexible and environmentally responsible,”
commitment to continuous improvement in focused on redesigning our compensation Huckaby said.
this area through the inclusion of enhanced methodologies for 2021 with ESG “We arrived at the decision to back the
disclosures on additional metrics. performance as a significant component. Humble team based on a combination of
“As we continue our ESG journey, PEMBINA PIPELINE CORPORATION, December factors,” said EnCap Flatrock Managing
our focus will remain on continuous 03, 2020 Director Tommy Waldrip, who is also a
improvement, transparency and engagement. member of the Humble Midstream board
Building upon our strong foundation, we PG&E seeks buyers for its of directors. “We first partnered with Steve
will seek to further integrate sustainable Huckaby in 2009 when we formed Meritage
business practices throughout the company”, Pleasant Creek natural gas Midstream I together and believe he is one
said Mick Dilger, Pembina’s president and of the best leaders in midstream. He has
chief executive officer. “Today, I am pleased storage field located in Yolo built and been at the helm of four successful
to announce the addition of Janet Loduca, midstream companies, served in leadership
who has joined Pembina as general counsel County positions at many others and has an excellent
and vice president, legal and sustainability. reputation across the energy industry. At
With over 30 years of legal, environmental, Pacific Gas and Electric Company (PG&E) Humble, he’s put together and continues to
regulatory and sustainability experience, announced today that it plans to sell build a highly experienced management team
Janet will be instrumental in advancing our its Pleasant Creek natural gas storage composed of executives with successful track
ESG priorities and developing a long-term field, located in Yolo County, Calif. The records and complementary skill sets. Finally,
sustainability strategy”, added Mr. Dilger. Pleasant Creek field is the smallest of four the Humble team shares our values and looks
Pembina recognises the growing risks underground natural gas storage fields owned at the midstream opportunity set in a fresh
and opportunities of climate change and wholly or partly by PG&E. With a natural way that aligns with the market.”
the role our industry must play in reducing gas inventory capacity of 2.3bn cubic feet HUMBLE MIDSTREAM, December 01, 2020
greenhouse gas (GHG) emissions while (bcf), the Pleasant Creek field accounts for

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