April 4, 2024
Diversified Energy Company
PLC
("Diversified," "DEC," or the "Company")
Diversified Energy Highlights
Achievements, Commitments, and Measurable Impact in 2023
Sustainability Report
Methane intensity falls by
33% as Company achieves 2026 & 2030 targets
Responsibly retired over 400
wells, including state-owned orphan wells
Activities contributed $1
Billion to state GDPs and supported nearly 8,000
jobs
Diversified Energy Company PLC (LSE:
DEC; NYSE: DEC) ("Diversified," "DEC," or the "Company") is proud
to release its fifth annual Sustainability Report, "Priorities & Performance,"
highlighting the Company's sustainability actions and achievements
in 2023. Diversified continues to implement innovate strategies to
manage mature producing assets while also promoting technological
improvement in all aspects of its business. The report details
Diversified's life-cycle stewardship model and commitment to being
a solutions-driven operator by responsibly producing lower-carbon
energy.
Key
highlights include:
• Reduced
methane intensity by 33% year-over-year to 0.8 MT CO2e per MMcfe; a
50% reduction as compared to 2020 baseline (1.6 MT CO2e per MMcfe)
and projected to be below U.S. Inflation Reduction Act-established
methane fee threshold
◦
Achievement surpasses 2026 target for a 30% reduction in methane
intensity and accomplishes the 2030 50% reduction target seven
years ahead of schedule
• Conducted
~246,000 voluntary emission detection surveys; maintaining ~98%
no-leak rate company-wide on surveyed assets
• Retired
record 404 wells, including Diversified-owned and third-party
assets, with majority managed and completed by DEC's full-service
asset retirement company, Next LVL Energy
• Achieved
second year of Oil and Gas Methane Partnership 2.0 (OGMP) Gold
Standard
•
Contributed over $1 billion to state GDPs through employment and
operations
•
Strengthened community outreach efforts include $2.1 million in
grants, programs, and community support
◦ Provided
education assistance through over 50 university scholarships and
paid internship opportunities
• Increased
employee programs such as new family adoption policy, mental health
webinars, and unconscious bias training
• Expanded
Board's gender diversity to over 40% female, with 75% of
Board Committees chaired by females
• Enhanced
discussion and analysis of Task Force on Climate-Related Financial
Disclosures (TCFD)
Commenting on the report, CEO Rusty Hutson, Jr.
said:
"Diversified Energy continues to
tackle the need for energy reliability, affordability, and
sustainability head-on through our differentiated and proven
stewardship model. Our strength lies in our people, who together
make up the extraordinary OneDEC culture. By providing solutions to
reduce emissions, increase the efficiency of our wells, and safely
produce energy for our communities before responsibly retiring
them, Diversified is well-positioned to play a lead role in the
energy transition today and into the future. The 2023
Sustainability Report provides our stakeholders with a clear
understanding of our commitment to sustainability, the stewardship
of our assets, and to the dedicated efforts of our employees. We
are proud to be the Right Company at the Right Time that is
laser-focused on delivering pace-setting environmental performance
and social responsibility - all while providing critical and
affordable energy that drives our modern world."
View the 2023 Sustainability Report
online at div.energy/sustainability/
For further information, please
contact:
Diversified Energy Company PLC
|
+1
973 856 2757
|
Doug Kris
|
dkris@dgoc.com
|
Senior Vice President, Investor
Relations & Corporate Communications
|
www.div.energy
|
|
|
FTI
Consulting
|
dec@fticonsulting.com
|
U.S. & UK Financial Public
Relations
|
|
About Diversified Energy Company PLC
Diversified is a leading publicly
traded energy company focused on natural gas and liquids
production, transport, marketing, and well retirement. Through our
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.