Diversified Energy Company has once again met its sustainability goals, with officials celebrating the organizationÃÛÁÄÖ±²¥™s success in maintaining its principles and serving as good stewards of the environment and community.
Diversified Energy Company Senior Vice President of Sustainability Teresa Odom said that for the company, sustainability means engaging in actions that create or protect value through responsible operations.
ÃÛÁÄÖ±²¥œItÃÛÁÄÖ±²¥™s doing business without negatively impacting our surroundings and, when possible, improving whatÃÛÁÄÖ±²¥™s already there,ÃÛÁÄÖ±²¥ Odom said. ÃÛÁÄÖ±²¥œOur sustainability approach is one of a stewardship position.ÃÛÁÄÖ±²¥
Diversified Energy recently released its 2024 sustainability report, where CEO Rusty Hutson referred to the companyÃÛÁÄÖ±²¥™s three pillars of stewardship: planet, people and principles.
ÃÛÁÄÖ±²¥œWe acknowledge and honor our responsibility to our employees, communities and the environment, as well as the role we can play as a leader in our industry,ÃÛÁÄÖ±²¥ Hutson said. ÃÛÁÄÖ±²¥œDiversified is focused on what matters operationallyÃÛÁÄÖ±²¥”being a responsible steward of our assets, reducing our emissions footprint, and rehabilitating and retiring wellsÃÛÁÄÖ±²¥”while supporting communities and economies with essential energy through safe operations and local employment.ÃÛÁÄÖ±²¥
Odom emphasized that environmental and ecological stewardship should be a core mission for any oil and gas company, and it is an area where Diversified Energy excels.
In 2024, Diversified Energy retired 300 wells, maintained a 98% no-leak rate and continued lowering its methane intensity footprint. Meeting or exceeding these goals, along with others, is part of what sets the company apart, according to Odom.
ÃÛÁÄÖ±²¥œWeÃÛÁÄÖ±²¥™re doing what weÃÛÁÄÖ±²¥™ve always done,ÃÛÁÄÖ±²¥ Odom said. ÃÛÁÄÖ±²¥œThis company was initially set up to be a better steward of the assets than the previous owners. We want to do things better and more efficiently, and in doing so, we know itÃÛÁÄÖ±²¥™s making a positive impact on the environment.
ÃÛÁÄÖ±²¥œWe achieved our 2030 goal for our methane intensity footprint in 2023, but that didnÃÛÁÄÖ±²¥™t mean we stopped there. We continued to make progress through collaborations with our employees, technology partners, government entities, and industry peers. In doing so, what we were able to achieve in 2024 was another reduction in methane intensity by 13%, which has led to a cumulative 56% reduction versus our 2020 baseline.ÃÛÁÄÖ±²¥
While environmental stewardship is critical, Odom said caring for the communities and people where Diversified operates is equally important.
She noted that this focus matters not only because the company draws resources from those areas but also because Diversified employees live locally.
ÃÛÁÄÖ±²¥œThose are our homes,ÃÛÁÄÖ±²¥ Odom said. ÃÛÁÄÖ±²¥œOur employees are our boots on the ground from an operational perspective, but theyÃÛÁÄÖ±²¥™re also citizens. They want whatÃÛÁÄÖ±²¥™s best for those communities, the environment, and for their families, so when we partner alongside them, thatÃÛÁÄÖ±²¥™s when the communities and the company all benefit.ÃÛÁÄÖ±²¥
According to the sustainability report, Diversified Energy contributed $2.1 million to communities, educational-related efforts and events, and other stakeholders in its operating area, with more than 25% of those funds going to socio-economically disadvantaged regions.
These contributions supported a variety of areas, including education, STEM, health and wellness, first responders and more.
Additionally, the company reported a 77% increase in ÃÛÁÄÖ±²¥œGood Catch/Near MissÃÛÁÄÖ±²¥ reporting, which encourages employees to highlight potential safety issues in the field and within their communities.
The companyÃÛÁÄÖ±²¥™s ÃÛÁÄÖ±²¥œpeople pillarÃÛÁÄÖ±²¥ strongly emphasizes employee wellbeing, Odom said.
ÃÛÁÄÖ±²¥œSafety is our number one priority,ÃÛÁÄÖ±²¥ Odom said. ÃÛÁÄÖ±²¥œWe realized improvements in our primary safety metrics this year.ÃÛÁÄÖ±²¥
Diversified improved its three-year average safety performance for both personal and driver safety and evolved its safety training delivery method to a smaller group engagement model.
The final pillar discussed in the sustainability report is principles, which Odom said simply comes down to doing the right thing.
ÃÛÁÄÖ±²¥œAs part of our core values, we emphasize ÃÛÁÄÖ±²¥˜CARE,ÃÛÁÄÖ±²¥™ which stands for commitment, accountability, respect and excellence,ÃÛÁÄÖ±²¥ Odom said. ÃÛÁÄÖ±²¥œPart of that means acting with integrity. It means challenging the status quo, but it also means focusing on excellence and integrity with everything you do. When we think about governance, itÃÛÁÄÖ±²¥™s about having the appropriate corporate policies and procedures in place to make sure weÃÛÁÄÖ±²¥™re all focused on those things.ÃÛÁÄÖ±²¥
When combining the companyÃÛÁÄÖ±²¥™s principles with stewardship over the planet and people, Odom said Diversified EnergyÃÛÁÄÖ±²¥™s already impressive efforts create an even greater impact, setting the organization up for an even brighter future.
ÃÛÁÄÖ±²¥œThe 2024 sustainability report is by far the best report weÃÛÁÄÖ±²¥™ve ever put out,ÃÛÁÄÖ±²¥ Odom said. ÃÛÁÄÖ±²¥œWe take pride in our reports being transparent, and weÃÛÁÄÖ±²¥™ve been rewarded for that transparency in the past. We are using our reports to showcase the progress weÃÛÁÄÖ±²¥™re making against those sustainability ambitions, and weÃÛÁÄÖ±²¥™re trying to share with our stakeholders where weÃÛÁÄÖ±²¥™re coming from and where weÃÛÁÄÖ±²¥™re headed.ÃÛÁÄÖ±²¥
