Diversified Energy Company PLC (LON:DEC) (NYSE: DEC), has released its sixth annual Sustainability Report, Winning Through Collaboration, highlighting the Company’s sustainability actions and achievements in 2024. As the champion of the strategy of managing proved, developed, producing (PDP) assets, Diversified is the only publicly traded company dedicated to this approach, leveraging operational scale, vertical integration, and a proprietary technology platform to drive efficiency and long-term value.
With Diversified’s Smarter Asset Management approach to asset stewardship, combined with the inherent benefits of natural gas, the Company is well-positioned to meet modern energy challenges while delivering the reliable, lower-carbon energy needed to balance growing demand with innovation in energy supply. The report details Diversified’s continued progress in advancing operational excellence, reducing environmental impacts, and enhancing employee safety. Key highlights include:
Protecting Our Environment
- Reduced methane intensity by ~13% year-over-year to 0.7 MT CO2e per MMcfe; a 56% reduction as compared to 2020 baseline (1.6 MT CO2e per MMcfe)
- 459 pneumatic devices and pumps were eliminated or converted to non-emitting through the work of DEC’s Pneumatics Task Force and individual field teams
- Conducted 152,000 voluntary emission detection surveys; maintaining a ~98% no-leak rate company-wide on surveyed assets
- Achieved a third consecutive year of Oil and Gas Methane Partnership 2.0 (OGMP) Gold Standard
Supporting Our Employees
- Improved personal safety performance with a 30% reduction in TRIR while simultaneously realizing a 52% reduction in contractors with a high TRIR score
- Our 2024 motor vehicle incident rate was 0.34 incidents per miles driven, a 38% decrease from 2023 even as we increased our total number of miles driven by nearly 11%
- Introduced new employee physical and mental wellness programs
Serving Our Communities
- Contributed over $1 billion of economic impact to state GDPs through employment and operations for a third consecutive year
- Strengthened community outreach efforts to include $2.1 million in community contributions, grants and support programs
- More than 25% of community outreach was distributed to socio-economically disadvantaged geographic regions
Commenting on the report, CEO Rusty Hutson, Jr. said:
“Diversified Energy remains committed to delivering reliable, affordable, and sustainable energy. In 2024, our OneDEC culture flourished, empowering our employees to drive innovation, collaborate, and share knowledge, turning ideas into real solutions. Our Sustainability Report highlights our focus on responsible operations, from reducing emissions to safely retiring wells, all while supporting communities and local economies. As the publicly traded PDP Champion, executing the differentiated strategy focused on improving currently producing assets, we are proud to be the Right Company at the Right Time, providing critically needed energy while leading the way in sustainability.”
