Diversified Energy highlights ESG progress in new report

Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) confirmed it retired 200 wells in Appalachia, US, over the past year, representing a 47% rise over the previous year.

In its fourth sustainability report, the US-focused oil and gas company added it also reduced its methane intensity by 20% compared to 2021 and is on track to hit its target of a 30% reduction by 2026.

All operated Appalachian wells were also surveyed for fugitive emissions, the company said, while 70% of the company’s total borrowings are now sustainability-linked.

Rusty Hutson, Jr, chief executive, said: “Diversified continues to demonstrate its leadership across a broad spectrum of environmental, social, and governance policies and disclosures.”