ESG Opportunitiy for Water Management Emerges in Permian Basin

B3 Insight’s Oilfield Water Stewardship Council aims to establish industry-endorsed ESG reporting standards for oil and gas industry water management.

Water management in the Permian Basin has grown dramatically in the last decade. In 2019 alone, eight billion barrels of produced water were generated—enough to fill four Empire State Buildings to the brim every day. In recent years, increased social awareness and investor concerns on ESG factors have intensified. The drive for related ESG metrics, particularly as they relate to water management, presents an opportunity for the oil and gas industry to assign objective value to environmental stewardship and reinvigorate its social license to operate.

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Source: Hart Energy