Diversified Energy Announces Significant Achievements in 2023 Sustainability Report

Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC), in its latest Sustainability Report for 2023, showcases remarkable advancements in sustainability efforts and operational achievements. The report, titled "Priorities & Performance," outlines the company’s innovative strategies and technological improvements aimed at producing lower-carbon energy efficiently.

A noteworthy highlight is the 33% reduction in methane intensity from the previous year, achieving a 50% reduction from the 2020 levels, surpassing the 2026 target and reaching the 2030 goal seven years early. The company conducted around 246,000 voluntary emission detection surveys, maintaining a nearly 98% no-leak rate across surveyed assets. Furthermore, Diversified Energy successfully retired a record 404 wells, a mix of owned and third-party assets, predominantly managed by its asset retirement arm, Next LVL Energy.

The company’s operations have made a substantial economic impact, contributing over $1 billion to state GDPs and supporting almost 8,000 jobs. Diversified Energy strengthened its community engagement through various initiatives, including $2.1 million in grants and over 50 university scholarships.

CEO Rusty Hutson, Jr. commented on the report, emphasizing Diversified Energy’s commitment to energy reliability, affordability, and sustainability. The company’s differentiated stewardship model and initiatives to reduce emissions highlight its role in the energy sector's transition towards more sustainable practices.