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Patterson-UTI Energy, an oil and natural gas drilling company,, is committed to reduce its GHG emissions as part of its sustainability efforts. The company acknowledges the potential adverse impacts to the oil and gas industry in the United States if global warming is limited to well below 2ºC, consistent with a global aspiration of net zero greenhouse gas emissions by 2050.
Patterson-UTI Energy has taken steps to reduce emissions and develop lower-emissions operations and services. The company has tested the use of hydrogen as a fuel source on an operating drilling rig, potentially making it the first to do so. It also tracks research and development and capital expenditures spent on developing and deploying technology and equipment for lower-emissions operations and services. The company is exploring models for tracking and reporting greenhouse gas emissions and participating in discussions regarding best methods for tracking and reporting emissions with industry groups. In its commitment to reduce CO2 emissions, the company has introduced Class L cement, maintaining performance equivalent to that of Class A cement.
Patterson-UTI Energy plans to continue its development of alternative fuels and lower-emissions solutions. It is also pursuing opportunities related to renewable energy sources such as geothermal. The company will invest capital in sustainable solutions and emission-reducing equipment, including the ongoing deployment of its EcoCell™ system and natural gas engines. Patterson-UTI Energy believes it has a leadership position in equipment, technology, and software solutions that put it at a competitive advantage as customer demand shifts to lower-emissions operations and services.
In conclusion, Patterson-UTI Energy is taking steps to reduce its environmental impact and emissions. The company is investing in sustainable solutions, exploring renewable energy sources, and developing lower-emissions technology. By doing so, Patterson-UTI Energy aims to mitigate climate change risks, reduce operating expenses, and enhance its competitive position in the industry.