Vital Energy

Vital Energy, a US-based research and development services company, reported total carbon emissions of approximately 28.2 billion kg CO2e in 2023. This includes Scope 1 emissions of about 663 million kg CO2e, market-based Scope 2 emissions of approximately 227 million kg CO2e, and Scope 3 emissions of around 27.3 billion kg CO2e.

Looking back, their emissions trended as follows:

• 2022: Total emissions were approximately 16 billion kg CO2e, comprising Scope 1 emissions of around 452 million kg CO2e, location-based Scope 2 emissions of about 71 million kg CO2e, and Scope 3 emissions of roughly 15.5 billion kg CO2e.
• 2021: Total emissions stood at approximately 15.5 billion kg CO2e, with Scope 1 emissions at about 708 million kg CO2e, location-based Scope 2 emissions at around 65 million kg CO2e, and Scope 3 emissions at roughly 14.7 billion kg CO2e.
• 2020: Total emissions were approximately 15.4 billion kg CO2e, including Scope 1 emissions of about 950 million kg CO2e, location-based Scope 2 emissions of around 22 million kg CO2e, and Scope 3 emissions of roughly 14.5 billion kg CO2e.
• 2019: Total emissions were approximately 15.7 billion kg CO2e, with Scope 1 emissions at about 1.07 billion kg CO2e, location-based Scope 2 emissions at around 20 million kg CO2e, and Scope 3 emissions at roughly 14.6 billion kg CO2e.

Vital Energy has set ambitious climate commitments, demonstrating significant progress in reducing its emissions intensity. The company achieved a 59% reduction in its Scope 1 GHG emissions intensity from a 2019 baseline by 2022, surpassing its target to reduce intensity to below 12.5 mtCO2e/MBOE (metric tons CO2e per thousand barrels of oil equivalent). Similarly, it achieved a 65% reduction in its Scope 2 GHG emissions intensity from a 2019 baseline by 2022, also exceeding its 2025 target of below 12.5 mtCO2e/MBOE. Vital Energy has also committed to achieving net-zero emissions by 2050, as recognised by the Science Based Targets initiative (SBTi) for its long-term target.