Fortify Energy embraces a responsible approach in service to our shareholders, employees, communities, and our natural surroundings.
Environmental
As the world seeks affordable and reliable energy while reducing the amount of carbon emitted into the atmosphere, operators of late-life oil and gas assets play a vital role in meeting global demand. In doing our part to meet this demand, Fortify Energy approaches environmental responsibility with the same relentless pursuit of discipline, strategy and accountability that drives every part of our business.
Late-life assets, also known as legacy assets, are previously-established well sites and facilities that have entered the second halves of their productive lives but will continue to provide decades of needed hydrocarbon production.
A benefit to our model is that these oil and gas fields have the requisite infrastructure fully or nearly fully in place and thus do not require additional footprints for drilling and production. However, because Fortify grows primarily through acquired assets, we inherit the original emissions profiles of those assets. Safely producing hydrocarbons while reducing emissions from the fields acquired is an important consideration in our environmental strategy.
Understanding the Challenge
Understanding the Challenge
Acquisition of late-life assets often includes equipment and infrastructure that have been neglected. Unnecessary or obsolete equipment reduces field efficiency and increases emissions potential. At Fortify, our robust inventory management combined with technology-driven monitoring helps identify risks and inefficiencies. In this way, the core business model of Fortify is in alignment with our environmental objectives.
Identifying Sources and Monitoring
Combustion is the main driver of CO2 emissions, and pneumatic devices are the major drivers of methane emissions. Accurate inventory management combined with a robust monitoring program helps reduce EPA-calculated emissions estimates and, more importantly, actual emissions. We use a wide variety of technologies and methods for monitoring and for conformance to Fortify standards.
Our environmental health and safety personnel and operators regularly complete facility inspections to ensure equipment is maintained and functioning properly.
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- Our environmental health and safety personnel and operators regularly complete facility inspections to ensure equipment is maintained and functioning properly.
Dedicated personnel perform optical gas imaging(OGI) to identify leaks (which can occur even with properly maintained equipment).
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- Dedicated personnel perform optical gas imaging (OGI) to identify leaks (which can occur even with properly maintained equipment).
Field personnel are empowered to shut in and repair facilities that exhibit these environmental concerns.
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- Field personnel are empowered to shut in and repair facilities that exhibit these environmental concerns.
Targeting Combustion
Fortify targets compression emissions through compression right-sizing, consolidation, and innovation. Appropriate combustion allows increased operational efficiency, reduced costs, and less fuel burned, which has the benefit of overall reduced emissions.
In 2021, Fortify reduced compression horsepower in Louisiana, which brought a significant reduction of CO2 emissions. An ongoing process investigates similar action at all our facilities.
Equipping to Protect
We focus capital spending on updating, retrofitting, and refurbishing aging equipment, which assists in preventing leaks and improves emissions performance. Equipment can also provide innovative pathways to positive environmental outcomes.
We believe it is crucial that we conduct our business with environmental impact considerations over and above maintaining adherence with environmental laws and regulations.
Minimizing the necessary footprint and reducing the emissions intensity of our products ensures that the maximum societal benefit is realized from the late-life assets we acquire. And, at the end of the useful life of a well, field or equipment, Fortify responsibly decommissions the site and restores the land.
Social
At Fortify Energy, we know very well that our employees are our most valuable assets. Not only do we strive to attract top talent, but we also seek to build a team of independent-minded, self-motivated individuals who can excel in an autonomous workplace. Our objective is to create a positive, safe, and ethical work environment that brings out the best in our employees and encourages pursuit of their highest goals.
Fortify fosters active collaboration among our employees, valuing the perspectives, experiences and ideas contributed by all. We are committed to maintaining a rewarding culture of respect, personal achievement, and professional fulfillment. To that end, we encourage and make accommodations for our employees to take advantage of professional educational opportunities.
We also offer summer internship programs to promote learning and real-time experience for enterprising college students. The company supports individual membership in industry organizations, such as the Houston Energy Finance Group and Houston Producers Forum, which host industry-related events and programs. Additionally, Fortify hosts frequent company events to promote team building, employee involvement, and a sense of community.
Fortify employees, along with immediate family members, actively serve as volunteers of charitable and non-profit organizations including Kid's Meals, the Small Steps Golf tournament (an annual Houston fundraiser in support of economically at-risk children), church-based child outreach programs, including a summer camp that supports religious education, and a number of animal welfare groups.