Jonah Energy Announces Closing of Comprehensive Balance Sheet Recapitalization and Equity Raise of $85 Million
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Denver, CO – Jonah Energy LLC is the first company to be awarded Independent Energy Standards Corporation’s (IES) low-methane standard as part of its TrustWell™ Responsible Gas program.
The new Low-Methane Verified Attribute program relies on independently verified performance metrics along with the overall TrustWell process, called “TrustWell Verified Attributes,” the first of which is low-methane. To qualify for the standard, Jonah Energy had to meet both qualitative and quantitative verifications and meet certain low emission criteria established by IES.
Once qualified, IES then verified Jonah Energy’s quantification of methane through protocols vetted and approved by IES, such as those established by ONE Future and the Oil & Gas Climate Initiative through US EPA’s Greenhouse Gas Reporting Protocol. The output is a TrustWell Low-Methane Verified Attribute associated with the produced gas, as well as a specific methane intensity number (leak rate as a percentage of overall production) and producer reduction factor (reduction in methane footprint of the gas versus an industry benchmark).
Jonah Energy achieved a TrustWell Gold overall rating as well as the Low-Methane Verified Attribute.
“We are proud of this achievement and our ability to now provide verified responsibly produced natural gas to the market,” said Jonah President and CEO, Tom Hart. “We have always taken our environmental responsibility very seriously, and we are pleased that our hard work on reducing emissions is now verified.”
Jonah Energy continuously works to improve all phases of its operations. The company partners with a variety of environmental organizations to protect and enhance the environment, along with community organizations to improve the lives of communities where Jonah Energy operates.
Jonah Energy recently launched its Responsibly Produced Gas initiative based on proven environmental sustainability performance, including:
“Jonah is a longstanding leader in emission control practices and we will continue to lead in this area,” Hart added.
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Vice President, Government and Regulatory Affairs