Diversified Energy to give analysts an ESG deep dive with November asset tour

(Proactive Investors) – The company said it intends to highlight the expansion of its asset retirement programme, which includes the retirement of approximately 115 wells in 2021 to date.

Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) confirmed it is to host a Capital Markets Day event in Texas, including a tour of assets in its ‘Central Region’ to showcase examples of its Smarter Asset Management and ESG operating initiatives.

The company, in a statement, said the event will take place on November 17.

“I am looking forward to offering our shareholders and the analyst community a deep-dive into our strategy driving our rapid growth and highlighting the important work we are undertaking to address sustainability in all facets of our operations,” said chief executive Rusty Hutson.

It follows an article by Bloomberg, which according to DEC failed to reflect the positive environmental, social and economic benefits stemming from its investments into, and stewardship of, its assets.

DEC added that the event will feature recent environmental achievements and new ESG initiatives, including safety enhancements, asset integrity and replacement, emission reductions, production optimisation and financial stability, as well as its industry-leading performance in retiring mature assets.

Specifically, it intends to highlight the expansion of the company’s asset retirement programme which, the company said, includes the retirement of approximately 115 wells in 2021 to date.

It will also highlight DEC’s investments in upstream and midstream emissions reductions efforts and the use of Leak Detection and Repair (LDAR), along with a review of the company’s asset inspection programme, which it says includes in excess of 100,000 well site visits per month.

DEC also noted the appointment of Jim Sheehan as its new vice president of investor relations and Teresa Odom, who previously led investor relations and ESG efforts, takes up the new role of vice president of ESG & sustainability, part of an expansion of the company’s ESG capabilities.