“Our investment in advanced and innovative emissions measurement technology advances our efforts to reduce our methane emissions by 30% by 2026,” said Chief Executive Rusty Hutson.
Diversified Energy Company PLC (LSE: DEC, OTCQX: DECPF) told investors that it is now positioning itself as the first company in the United States to deploy certain state-of-the-art emissions measurement devices in upstream natural gas operations.
He notes that previous generation equipment was only capable of visually detecting fugitive methane emissions, a newer technology used by the company (the Opgal EyeCGas 2.0, EyeCSite software and Semtech Hi- Flow 2) takes the next logical step and estimates the quantity of the emission.
This technology uses artificial intelligence software to quantify methane leaks, particularly emissions from hard-to-reach leak sources, DEC pointed out.
DEC, in a statement, said the addition of the new equipment complements the company’s existing emissions detection devices and well management initiatives. It is funded by the US$15 million set aside in November.
“Our investment in advanced and innovative emissions measurement technology advances our efforts to reduce our methane emissions by 30% by 2026 from 2020 levels on the path to net zero greenhouse gas emissions. by 2040,” Chief Executive Rusty Hutson said.
“Adding this technology to the portable aerial monitoring and detection devices we have put in the hands of our qualified well suppliers further enhances our ability to proactively detect, accurately measure and repair fugitive emissions on all of our assets.
“We are proud to demonstrate our industry leadership with another milestone that supports our fugitive emissions reduction initiatives. Diversified remains committed to continuously improving our environmental performance and exceeding the expectations of our stakeholders.”