Diversified Energy Highlights Sustainability Achievements
Diversified Energy (NYSE: DEC; LSE: DEC) is thrilled to announce its recent accolade of Gold Standard Reporting certification from the Oil & Gas Methane Partnership 2.0 (OGMP 2.0). This recognition underlines the company’s unwavering dedication to mitigating methane emissions through meticulous measurement and transparent reporting practices.
Leading the Way in Methane Reduction Initiatives
As a proud reporting member of OGMP 2.0 since May 2022, Diversified Energy has consistently worked towards achieving the highest standard in emissions tracking and reduction. The Gold Standard Reporting is the organization's premier accolade, signifying a company’s commitment to ambitious and attainable multi-year reduction strategies.
The Role of OGMP 2.0
OGMP 2.0 is a prominent, voluntaristic initiative co-sponsored by the United Nations Environment Program and several partner organizations. It serves as the only comprehensive framework for accurately reporting methane emissions within the oil and gas sector. By achieving this certification, Diversified Energy illustrates its proactive stance on reducing methane emissions significantly.
CEO's Statement on Commitment
Rusty Hutson, Jr., the CEO of Diversified Energy, expressed pride in this landmark achievement, stating, "Our team is focused on producing natural gas efficiently and responsibly. This recognition from the OGMP highlights our result-oriented efforts, showcasing innovative technologies that enhance our emission performance. The certification reinforces our commitment to responsible production and minimal methane leaks."
Steps Toward a Sustainable Future
To attain the esteemed Gold Standard certification, Diversified Energy has implemented various emissions reduction strategies. This includes continued investment in advanced emission detection technologies and a concerted effort to transition away from gas-driven pneumatic devices. Moreover, this accomplishment empowers the company to offer Responsibly Sourced Gas (RSG), a commodity recognized for its verified low-methane characteristics.
Joining a Collaborative Network
Diversified Energy is proud to stand with over 65 companies worldwide, including major firms like ConocoPhillips and EQT, that have also achieved this Gold Standard status. Collectively, these companies represent a significant portion of global oil and gas production, emphasizing their commitment to transparency and sustainability.
Insights from Recent Reports
The United Nations’ International Methane Emissions Observatory (IMEO) has endorsed OGMP 2.0 as a benchmark for transparency. Their recent publication, “An Eye on Methane,” underscores the importance of best practices in methane measurement and management. Such endorsement reinforces the collaborative spirit of the OGMP, urging member companies to adopt effective strategies for tackling methane emissions.
About Diversified Energy Company
Diversified Energy is a prominent publicly traded entity specializing in natural gas and liquid production, transport, marketing, and sustainable well retirement. With a strategy focused on value creation through the enhancement of existing long-life assets, Diversified strives to improve operational efficiency while prioritizing environmental stewardship. Recognized for its sustainable leadership, the company’s approach to energy production aims to deliver reliable cash flow and generate shareholder value.
For more information, please reach out to:
Diversified Energy Company PLC
Phone: +1 973 856 2757
Doug Kris
Email: dkris@dgoc.com
FTI Consulting
dec@fticonsulting.com
Frequently Asked Questions
What is the Gold Standard Reporting certification?
The Gold Standard Reporting certification is the highest level of recognition from the Oil & Gas Methane Partnership 2.0, signifying commitment to methane reduction.
How does Diversified Energy contribute to methane emission reductions?
Diversified Energy employs advanced technologies for emissions detection and commits to transitioning away from gas-driven pneumatic devices.
Why is OGMP 2.0 important?
OGMP 2.0 is a leading initiative that sets standards for transparency and accuracy in methane emission reporting within the oil and gas industry.
Who are some partners in the OGMP 2.0 initiative?
Key partners include organizations like the United Nations Environment Program, Environmental Defense Fund, and Climate and Clean Air Coalition.
What is Responsibly Sourced Gas (RSG)?
RSG is a differentiated natural gas product with verified low-methane attributes, appealing to utilities and LNG buyers.
