Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) told investors that it is now positioned as the first company in the US to deploy certain state-of-the art emissions measurement devices in natural gas upstream operations.
It notes that earlier equipment was capable only of visually detecting fugitive methane emissions, while newer technology being used by the company (the Opgal EyeCGas 2.0, EyeCSite software, and the Semtech Hi-Flow 2 sampler) take the next logical step and estimate the amount of emissions.
This technology uses Artificial Intelligence software to quantify methane leaks, especially emissions originating from difficult to access leak sources, DEC highlighted.
DEC said the addition of the new equipment complements the company's existing emission detection devices and well management initiatives. It is funded from the US$15mln (£11.5mln) set aside in November.
"Our investment into advanced and innovative emissions measurement technology advances our efforts to reduce our methane emissions by 30% by 2026 from 2020 levels on the way to net-zero greenhouse gas emissions by 2040,” said chief executive Rusty Hutson.
“Adding this technology to the aerial surveillance and handheld detection devices we've placed in the hands of our skilled well tenders further enhances our ability to proactively detect, accurately measure and repair fugitive emissions across our asset base.
“We are proud to demonstrate our leadership in the industry with yet another important milestone that supports our fugitive emission reduction initiatives. Diversified remains committed to the continuous improvement of our environmental performance and to outpacing the expectations of our stakeholders."