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Shale Driller Civitas Buys Credits to Offset Carbon Emissions

The chairman of the Colorado oil producer says it can offset Scope 1 and Scope 2 emissions, and it’s considering carbon sequestration

Civitas Resources Inc., a Colorado shale driller created via a series of mergers earlier this year, said it has accumulated enough credits to cover its 1 million tons of annual carbon emissions from the company’s oilfield activities.

The credits cover emissions from the company’s operations and the power and heat its uses, classified as Scope 1 and Scope 2, according to Ben Dell, its chairman. They don’t offset so-called Scope 3 emissions from customers burning the oil Civitas produces, a category that typically dwarfs the other two in terms of size.