​Baytex establishes GHG reduction target

Image: Baytex Energy Corp.

Intermediate operator Baytex Energy Corp. is the latest Canadian oil and gas producer to establish a GHG reduction target.

In its new sustainability report issued this week, Baytex said it emitted 1.3 million tonnes of CO2 in 2018, with GHG intensity of 0.085 tonnes of CO2 equivalent per boe.

That includes a full year of its own operations and approximately half the year including the operations of Raging River Exploration, which Baytex acquired in August.

Baytex said it plans to reduce our its corporate GHG emission intensity by 30 percent by 2021, or approximately 10 percent year-over-year. The baseline year will be 2018, incorporating full year emissions for both companies, it said.

Baytex produced 98,402 boe/d in the second quarter of 2019.

Suncor Energy is the largest Canadian oil and gas producer to set a GHG target, to reduce the intensity of its operations by 30 percent compared to 2014 by 2030.

Competitor Canadian Natural Resources has a long-term aspirational target of net zero emissions in its oilsands operations.

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