Sheridan, WY and San Francisco, CA – December 3, 2018 – GP Energy Management and Carbon Creek Energy are proud to announce a first-of-its-kind sale in commodities markets that represents a paradigm shift in the energy industry—Frack-Free Natural Gas Certificates. Carbon Creek has entered into a contract with East Coast Power & Gas, a regional energy services company, to deliver a groundbreaking product in a multi-year deal.
Carbon Creek’s production is TrustWell™ Rated by Independent Energy Standards Corporation (IES), indicating that the production operations have met a very high standard of environmental responsibility. In its TrustWell Rating process, IES also independently verified that the natural gas is produced without high-pressure hydraulic fracturing. As a result, Carbon Creek has created Frack-Free Natural Gas Certificates, enabling credible differentiation of their natural gas.
To ensure data and market integrity, Carbon Creek has partnered with Xpansiv to harness and transform its production data into Digital Feedstock™, a standardized digital format that combines data science, cryptography, and distributed-ledger technologies to securely track and transfer vital source data. Going forward, this partnership will enable certified natural gas production data to be bought, sold, and transferred—bundled or unbundled from the physical commodity—in a transparent, interconnected data ecosystem.
“Carbon Creek’s low-pressure, frack-free production reduces impact and preserves fresh water,” said Alan Brown, Carbon Creek CEO. “We’ve received numerous inquiries from customers interested in our specific production profile, but until now, it’s been difficult to differentiate our product in the market. With the help of our partners, we are now able to work with new market buyers like East Coast Power & Gas, enabling them to provide their customers with a product they’ve been clamoring for—a cleaner gas alternative. It’s a game changer for us.”
Xpansiv’s digital commodity platform enables the natural gas industry to provide an environmentally superior gas product, which before now only existed in the form of renewable energy credits (RECs) for the power industry.
“We’re excited by the opportunity to partner with Carbon Creek and be the first to market the first of its kind, Frack-Free Natural Gas,” said Vincent Palmieri, Chief Operating Officer of East Coast Power & Gas. “The ability to produce, track, and certify an environmentally conscious natural gas product is not only innovative but revolutionary. The market has been calling for someone to step up and bridge the gap for a viable and ecologically friendly natural gas product. Carbon Creek has clearly answered the bell. The fact that they partnered with Xpansiv is the icing on the cake—cutting-edge technology to certify a groundbreaking product made my decision an easy one.”
GP Energy Management and Carbon Creek look forward to working with many new counterparties in the coming months.
Carbon Creek—Chris Ginsbach: firstname.lastname@example.org
GP Energy Management—Alex Baldassano: email@example.com
East Coast Power & Gas—Vincent Palmieri: firstname.lastname@example.org
IES—Cortney Piper: email@example.com
Xpansiv—Sam Teplitsky: firstname.lastname@example.org
Carbon Creek Energy is a leader in producing responsibly-sourced natural gas in Wyoming’s Powder River Basin. The company’s wells produce natural gas from a naturally fractured coal seam, meaning the wells do not require fracture stimulation to produce environmentally-responsible natural gas.
GP Energy Management is an outsourced energy risk management firm dedicated to creating unique solutions for the wholesale, retail, and developing energy marketplace. GP leverages its power, gas, and renewables expertise in both the wholesale and retail energy markets to create and execute customized energy strategies.
East Coast Power & Gas, a Proud Partner of Rutgers Athletics and the official energy supplier to the New York Mets, New Jersey Devils and Brooklyn Nets, is an energy services company founded in 2008, serving natural gas, electricity, and renewable sources of energy to both residential and commercial customers in New York, New Jersey, Delaware and Maryland. The company leverages its management team’s extensive experience to operate more efficiently than its competitors to preserve margin on supply contracts allowing for the most competitive products and prices. It is the one-stop solution for all energy needs.
IES is the market-leading independent ratings and analytics provider for risk and responsibility in the oil & gas industry. The company combines deep technical expertise with market mechanisms to economically reward responsible actors.
Xpansiv is a team of global experts and industry leaders dedicated to improving the way commodities are produced, managed, and traded worldwide. By extracting and refining real-time production data into Digital Feedstock, Xpansiv is creating a common system of intelligence for the commodity sector to better quantify risk, drive liquidity, and enable the differentiation of products in the marketplace.