Diversified Energy Company PLC Diversified Achieves OGMP Gold Standard Pathway
November 01 2022 - 3:00AM
RNS Non-Regulatory
TIDMDEC
Diversified Energy Company PLC
01 November 2022
1 November 2022
Diversified Energy Company PLC
("Diversified" or the "Company")
Diversified Energy Achieves Gold Standard Pathway in United
Nation's Oil & Gas Methane Partnership 2.0 for Ambitious
Methane Reduction Plan
Diversified Energy Company PLC (LSE: DEC) is pleased to announce
that the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) awarded
Diversified its Gold Standard Pathway, recognising the Company's
commitment to reduce its methane emissions and provide
measurement-based transparent reporting 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 Pathway, the OGMP 2.0 recognises the recipient has
demonstrated its commitment to set aggressive and achievable
multi-year plans designed to accurately measure and significantly
reduce methane emissions.
Rusty Hutson, Jr., CEO of Diversified, commented:
"We built our business on the premise of being responsible
stewards of existing natural gas and oil assets, so we value the
OGMP's recognition of our work. Their confidence in our
comprehensive initiatives and transparent reporting elevate the
visibility of this important, integrated element of our business.
The Gold Standard Pathway designation complements our already
strong ESG 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 recognition, Gold Standard
Compliance, Diversified has set actionable Scope 1 emissions
reduction targets driven by its commitment to annual investments in
handheld and aerial emission detection and by its initiatives to
remove or convert natural gas-driven pneumatic devices. Achieving
the Gold Standard Pathway positions Diversified to offer
Responsibly Sourced Gas (RSG), a differentiated commodity sought by
utilities and Liquified Natural Gas (LNG) buyers for its
independently verified low-methane attributes.
Diversified joins over 80 companies, including EQT Corporation,
BP, Royal Dutch Shell, Repsol, and Equinor, in the OGMP
Partnership, which represents half of the world's oil and gas
production. The United Nation's International Methane Emissions
Observatory's (IMEO) recently released "An Eye on Methane" 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.
The Company joined OGMP 2.0 in May 2022 and its Gold Standard
Pathway sets a 3-year timeframe for Diversified to achieve Gold
Standard Compliance.
For further information, please contact:
Diversified Energy Company PLC +1 973 856 2757
Doug Kris dkris @dgoc.com
www.div.energy
FTI Consulting DEC@fticonsulting.com
US & UK Financial Public Relations
About Diversified Energy Company PLC
Diversified Energy Company PLC is an independent energy company
engaged in the production, marketing and transportation of
primarily natural gas related to its synergistic US onshore
upstream and midstream assets.
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