Centennial Resource Development
Centennial Resource Development, often referred to as Centennial, is a prominent player in the oil and gas industry, headquartered in the United States. Founded in 2016, the company has rapidly established itself in key operational regions, particularly in the Permian Basin, where it focuses on the exploration and production of hydrocarbons. Specialising in unconventional oil and natural gas resources, Centennial is recognised for its innovative drilling techniques and commitment to operational efficiency. The company’s unique approach to resource development has positioned it as a leader in the sector, achieving significant milestones in production growth and sustainability practices. With a strong market presence, Centennial Resource Development continues to enhance its reputation through strategic acquisitions and a focus on maximising shareholder value, making it a noteworthy entity in the competitive landscape of energy production.
DitchCarbon Score
How does Centennial Resource Development's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Salt and Mineral Mining industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Centennial Resource Development's score of 18 is lower than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Centennial Resource Development's reported carbon emissions
In 2021, Centennial Resource Development reported total carbon emissions of approximately 335,991,000 kg CO2e from Scope 1 and 95,044,000 kg CO2e from Scope 2, resulting in a combined total of about 430,789,000 kg CO2e. This marked a significant reduction from 2020, where emissions were approximately 527,489,000 kg CO2e, indicating a decrease of about 36% in total emissions. The Scope 1 emissions in 2020 were approximately 527,489,000 kg CO2e, while Scope 2 emissions were about 60,136,000 kg CO2e. In 2019, the company reported even higher emissions, with Scope 1 at approximately 772,063,000 kg CO2e and Scope 2 at about 39,838,000 kg CO2e, leading to a total of around 811,416,000 kg CO2e. This trend shows a consistent effort towards reducing emissions over the years. Centennial Resource Development has not disclosed any specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. However, the company has made strides in reducing its carbon footprint, particularly in Scope 1 emissions, which include direct emissions from owned or controlled sources. The absence of Scope 3 emissions data suggests that the company may not yet be addressing indirect emissions in its value chain. Overall, Centennial Resource Development's commitment to reducing carbon emissions is evident in its decreasing emissions figures, although further transparency regarding specific reduction targets and initiatives would enhance its climate commitment profile.
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| 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|
| Scope 1 | 389,341,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 254,867,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 32,958,640,000 | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Centennial Resource Development is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
