Survey: As the Electric Grid Struggles to Meet New Demand, How Are Oil and Gas Companies Getting the Clean Energy They Need?

### The Evolution of Clean Energy and Its Impact on the Oil and Gas Industry

The U.S. energy landscape is undergoing a profound shift as the electric grid faces surging demand and increased pressure to adopt clean energy solutions. This transformation has significant implications for the oil and gas industry, which is rapidly transitioning towards more sustainable operations.

#### The Growing Demand for Electricity

A recent forecast by the U.S. Energy Information Administration has increased commercial electricity sales through 2025, with a potential for further revisions in the near future. This surge is particularly pronounced in states critical to the oil and gas sector, such as Texas, Oklahoma, and North Dakota. The heightened demand for electricity is driving competition among oil and gas companies and other industries for the clean energy needed to power new projects.

#### Electrification of Operations in Oil and Gas

In response to environmental concerns and cost savings, 88% of oil and gas industry leaders report that their companies are either currently electrifying their operations or evaluating the possibility. Electrification offers multiple benefits, including lower operational costs and reduced emissions. However, accessing the necessary clean energy has become a challenge, with at least half of oil and gas leaders stating that their companies are struggling to meet their energy needs in regions such as the Mountain West, Gulf Coast, and New England.

#### Innovative Solutions to Address Energy Shortages

To mitigate these challenges, oil and gas companies are exploring a variety of innovative solutions:

– **Renewable Energy Credits (RECs):** Thirty percent of oil and gas leaders utilize RECs to acquire clean energy through grid-sourced electricity with offsetting renewable energy credits. Another 54% are actively pursuing this clean energy option, highlighting the industry’s commitment to reducing its carbon footprint.

– **Off-Site Renewable Energy:** Thirty percent of companies use energy from off-site renewable projects, such as solar and wind initiatives, while 46% are actively exploring these opportunities. However, the connection process to the grid

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