Diversified Energy Achieves Gold Reporting in the United Nations' Oil & Gas Methane Partnership 2.0 for Continued Commitment to Methane Reduction
Diversified Energy Achieves Gold Reporting in the United Nations' Oil & Gas Methane Partnership 2.0 for Continued Commitment to Methane Reduction
Marks Fourth Consecutive Year of Recognition from an Organization Whose Protocol is Based on a Comprehensive, Measurement-Based Reporting Framework
Diversified Energy (NYSE:DEC, LSE: DEC)) is pleased to announce that the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) has awarded Diversified the Gold Standard Reporting certification, its highest level of achievement. Diversified has been a reporting member of the organization since May of 2022, and this recognition validates the Company's commitment to reducing its methane emissions and providing transparent reporting of its measurement-based emissions data to the highest OGMP 2.0 standard available.
OGMP 2.0, a voluntary and multi-stakeholder initiative co-sponsored by the United Nations Environment Program, Environmental Defense Fund, and the Climate and Clean Air Coalition, is the only comprehensive, measurement-based reporting framework created to accurately and transparently report methane emissions for the oil and gas industry. By awarding the Gold Standard Reporting certification, the OGMP 2.0 recognizes that Diversified has demonstrated its commitment to setting aggressive and achievable multi-year plans designed to accurately measure and significantly reduce methane emissions.
Rusty Hutson, Jr., CEO of Diversified, commented:
"Our team is highly focused on producing natural gas in the most efficient and environmentally responsible manner possible, so we value the OGMP's recognition of our work. We are proud of the results achieved by leveraging technology and deploying innovative approaches to unlock ever-improving emission performance. The Gold Standard Reporting certification complements our already strong sustainability actions, highlighting our commitment to transparency and validating the important work we're doing to responsibly produce natural gas while making methane leaks rare."
To reach OGMP 2.0's highest Gold Standard recognition, Gold Standard Reporting, Diversified has set emissions reduction targets which are largely driven by its commitment to annual capital investments in handheld and aerial emission detection technologies and to eliminating, converting or transitioning natural gas-driven pneumatic devices. Importantly, achieving the Gold Standard Reporting certification positions Diversified to offer Responsibly Sourced Gas (RSG), a differentiated commodity sought by utilities and Liquified Natural Gas (LNG) buyers for its verified low-methane attributes.
Diversified joins over 65 companies across the globe (one of only 9 US-based upstream companies), including ConocoPhillips, Devon, Diamondback, and EQT, in the OGMP Partnership that has achieved Gold Standard status, which represents 17 percent of the world's oil and gas production. The United Nations' International Methane Emissions Observatory's (IMEO) recently released "An Eye on Methane" report which explains that the IMEO views OGMP 2.0 as the standard for transparency, catalyzing collective action amongst member companies to share good practices on methane measurement and management.
For further information, please contact:
| Diversified Energy Company PLC | +1 973 856 2757 |
| Doug Kris | [email protected] |
| www.div.energy | |
| FTI Consulting | [email protected] |
| US & UK Financial Public Relations | |
About Diversified Energy
Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.
