Vine Energy Inc. Announces Strategic Partnership with Project Canary to Become First Company in Haynesville to Certify 100% of Assets for Entry into RSG Markets

PLANO, Texas--(BUSINESS WIRE)--Vine Energy Inc. (NYSE: VEI) (the “Company” or “Vine”) announced today the execution of an agreement with Project Canary, the standard for trusted Environmental, Social, and Governance data, in which Vine is expected to become the first in the Haynesville Basin to certify 100% of the company’s assets and gain access to certified, responsibly sourced gas (RSG) markets.

The certification process is expected to begin in November 2021, when Project Canary will begin its TrustWell™ operational certification review of all the company’s producing wells. In addition, Project Canary will deploy “Canary X” continuous emissions monitoring devices across locations representing 25-30% of Vine’s natural gas production which will target domestic and international RSG markets.

Noting the significance of the agreement, Eric Marsh, Chairman, President and Chief Executive Officer, commented, “Since Vine’s inception, we have demonstrated an unwavering commitment to environmental stewardship. In the past three years alone, we’ve reduced our methane intensity by 62% and our greenhouse gas intensity by 35%, all while growing production nearly three times over the same period. Our relationship with Project Canary will impart the reach necessary to both independently verify our performance and reduce our emissions even further, while concurrently meeting the growing demand for cleaner and affordable natural gas across the globe. As an essential component of our nation’s energy backbone, we are proud of the leadership role we are playing to protect our ecosystems for future generations with energy sourced in an environmentally responsible manner.”

Chris Romer, CEO and co-founder of Project Canary said, “Vine Energy is a well-recognized leader in the Haynesville and we are proud to be working with them to extend their operational and environmental performance goals and objectives.”

About Vine Energy Inc.

Vine Energy Inc., based in Plano, Texas, is an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana. The Company is listed on the New York Stock Exchange under the symbol “VEI”.

About Project Canary

Project Canary is a Denver-based B-Corp focused on delivering trusted responsibly sourced gas certification and advanced continuous emissions monitoring technology to help energy companies achieve best-in-class ESG performance. With more than 600 operational data points analyzed, TrustWell is the most comprehensive operational certification program available, providing a recognized badge of high standards. Project Canary’s team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards, including being named “Best for the World 2021” for creating the greatest impact through its business. www.ProjectCanary.com

Forward-Looking Statements

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