Insights from Bridger Photonics: A Personal Message from our CEO

July 2024

Welcome to our inaugural newsletter! We’ve had a bunch of interest from our clients, and from the broader emissions reduction community, in a “Bridger Photonics Newsletter.” So here we go!? We hope to use this newsletter as a chance to highlight and reflect on what we consider some of the most “newsworthy” things that happened in our company and in the broader emissions reduction world in the previous quarter. I’m thrilled to personally kick things off with a few updates from Q2 of 2024:

Regulations: The EPA finalized their “Subpart W” rulemaking in Q2, which set up the framework for operators to measure their emissions. Subpart W was the second of three pieces of the EPA’s recent methane regulatory rulemaking. We fought hard for key changes to the proposed rule and were rewarded with some big wins for the industry and for the environment in the finalized version of Subpart W. See our key takeaways later in this letter.

We are hosting a webinar on super-emitters coming on August 8th – sign up for Super Emitter Mitigation: A Rational Approach through this link.

Emissions Reduction Success: In Q2 we finalized proof that our clients are succeeding in reducing their methane emissions. We’ll be coming out with more on this in Q3 and Q4, but here’s a teaser:

• Our largest 20 clients (separated by basin) are reducing their emissions by a year-on-year average of 18% [8%, 25%]!? ?
• That same large-client cohort also achieved a 43% year-on-year reduction in super-emitter occurrence (based on the median).

Our work with you all is paying off big time, and we have the detection sensitivity, quantification accuracy, and inventory measurements with validated repeatability to prove it for you! I can’t tell you how fulfilling and motivating this is for our entire crew… thank you! Check out this talk by our CTO, Mike Thorpe walking through some of our results.

Export Success: First, we won the “Exporter-of-the-Year” award for our beloved state of Montana! But wait… there’s more export news! In Q2, we launched initiatives to expand operations to both Australia and South America! We’re excited to continue our growth and expansion serving operators across the globe. ?

Thanks for following along. You can expect a newsletter from us each quarter to provide important updates. If you have something you’d like us to cover, give us a shout! I want to close by extending my heartfelt appreciation to our clients and partners for their commitment to emissions reduction. History is watching and together, we are winning! ?

— Pete Roos, CEO

What's on Deck

• Emissions Innovators: Diversified Energy continues to lead the charge and reach methane intensity targets ahead of schedule.
• Emissions Oddities: Read why “stopping” leaks has an entirely new meaning. ?
• News Across North America: New US regulations have rolled out and our team is on top of how they all tie together.
• Mediaverse: Listen to an insightful dialogue about the current prioritization of emissions reduction in the oil and gas sector.?

Emissions Innovators

"Working to make leaks rare by land and air."

- Paul Espenan, Senior Vice President of EHS&R at Diversified Energy Company

Diversified Energy is a leading US energy company that began its work with Bridger Photonics in 2021. We’ve been working together to perform multi-year scans of Diversified's gathering and transmission assets in the Appalachian region. Diversified has truly raised the standard: in 2023, the company reached its 2030 methane intensity reduction target!

Congratulations to Diversified on their incredible progress!?

Read more about the progress in Diversified Energy’s 2023 Sustainability Report, and watch this short video to learn how they use aerial LiDAR.??

Emissions Oddities

In the early months of 2024, our data wizards detected a persistent emission across multiple scans for a large midstream operator.

After a gripping ground investigation by the operator, it was revealed to be a very unexpected culprit—a rogue stop sign whose post had breached a natural gas line. “Stopping” leaks now has a whole new meaning!??

Have a story to share? Submit your oddities to be featured! ?? Submit Your Oddities to [email protected].

News Across North America?

Over the course of a single week in May, the US EPA’s Subpart W Final Rule was released and OOOOb regulations took effect. Combined with the future Waste Emissions Charge, these new US regulations mean big changes for operators in the production sector. ?

Main takeaways from the OOOOb Final Rule that took effect on May 7, 2024 include: ?

1. For the first time, advanced leak detection technologies can be used for EPA compliance. ?
2. EPA will approve specific advanced technologies prior to their use for compliance. ?
3. The required screening frequency depends on the capabilities of the advanced technology. One or more approved technologies may be used.?

Main takeaways from the Subpart W Final Rule that was published on May 6, 2024 include:?

1. Reporting of Other Large Release Events is limited to “super-emitters” (emissions with rates greater than 100 kg/hr), meaning there will be no penalty through increased Waste Emissions Charges for detected emissions below this threshold. ?
2. For emissions without detailed time-bounded information indicating otherwise, the default time duration for Other Large Release Events is 91 days (instead of 182 days as described in the Proposed Rule).

Learn more about U.S. EPA OOOOb and OOOOc methane regulations and how Bridger Photonics can help.

What's New

Don't miss our next webinar, "Super Emitters: A Rational Approach," where we'll discuss effective strategies for identifying and managing super emitters to optimize methane mitigation. Join us on August 8 at 10am MT/12pm ET. ?? Register here.

Bridger’s Director of Policy and External Affairs, Asa Carré-Burritt, sat down with Energy Transition Solutions podcast. They discussed the industry’s focus on emission reduction, how methane detection works, and more. ?? Listen Now

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