Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) told investors it will deploy 500 additional methane emissions detection devices to its Appalachian upstream field operations team, supporting its ongoing commitment to environmental stewardship.
It follows a pilot project that saw 100 devices used across the portfolio. The pilot was effective in identifying small emissions for trained well tenders to eliminate at little-to-no incremental cost, the company noted.
Going forward DEC will use 600 hand-held methane emissions detection devices in its Appalachia operating area to allow its skilled personnel to identify and remediate emissions that would otherwise be undetectable using other techniques.
"We are actively accelerating investments in emerging environmental technology that will greatly expand our field operations team's ability to detect and repair methane emissions in Appalachia and across our broader asset base,” said chief executive Rusty Hutson.
“Respecting environmental stewardship in making business decisions is a core value for our employees. Diversified remains committed to the continuous improvement of our environmental performance and to outpacing the expectations of our stakeholders.”
It comes ahead of the group’s capital markets event, on November 17, at which the company intends to discuss its investment in monitoring, effectively managing, and reducing its emissions is part of the company's existing Smarter Asset Management (SAM) programmes and broader environmental, social and governance (ESG) initiatives.
In Tuesday’s statement the company noted that it has a longstanding zero-tolerance policy regarding unintended methane emissions.
DEC added that it is committed to repairing all emissions and to documenting and publicly disclosing the results of its emissions detection and repair activities.
Through enhancing its measurement processes and capabilities, the company highlighted that it is designing its emissions reduction programmes to exceed existing state and federal regulatory requirements governing methane emissions.