Gas and oil production company Diversified Energy will provide investors with an in-depth overview of the company’s strategy and operations at the group’s capital markets day event on Wednesday.
Diversified Energy will detail its 2022 plans, which include the deployment of new methane emissions detection equipment as part of a multi-year plan to reduce methane emissions from pneumatic devices by installing air compression, the expansion of internal asset retirement capabilities into Pennsylvania and implementation of a multi-year aerial surveillance program to enhance the firm’s ability to detect and reduce fugitive emissions.
The FTSE 250-listed firm will also outline its efforts to increase the number of wells it permanently retires to at least 200 per year by 2023.
Diversified Energy also noted that it was continuing to evaluate the possibility of a US dual-listing to complement its current listing on the London Stock Exchange.
Chief executive Rusty Hutson Jr said: “As we survey the evolving global landscape, we remain confident that Diversified is essential to the energy transition with our unwavering commitment to sustainability practices and responsible asset retirement.
“Looking ahead, we will continue to generate substantial free cash flow that will fund today’s announced ESG commitments in addition to our consistent dividends, debt reduction and accretive reinvestment to sustain our business.”
As of 0905 GMT, Diversified shares were up 0.76% at 105.60p.
