02/04/2023 | Press release | Distributed by Public on 02/04/2023 14:38
Local headquarters enhances Diversified's ability to train workforce, deploy equipment and safely retire wells
Bridgeport, WV., February 3, 2023 - Diversified Energy, a natural gas production company with operations in the Appalachian region, held a grand opening ribbon-cutting event today for Next LVL Energy's new headquarters and training facility.
Located in Bridgeport, Next Lvl is a wholly-owned subsidiary of Diversified Energy focused on asset retirement. The new headquarters enables efficient deployment of equipment and provides industry-leading training for staff development.
"Diversified Energy's continued investment in well retirement operations demonstrates our long-standing commitment to be responsible stewards of assets from acquisition through retirement," said Rusty Hutson, Jr. "We're proud to build the premier asset retirement company in the Appalachian region and this new headquarters will only further integrate these operations into the heart and soul of our daily strategy, benefitting our existing operations, the environment, and the local communities we're proud to call home."
Joining today's ribbon-cutting event were Governor Jim Justice and other state and local leaders.
"It's amazing if you step back and think about all the contribution Diversified is making across the state," said Gov. Jim Justice during Friday's ribbon cutting event. "What's Rusty's doing is remarkable beyond belief and I'm really proud this company never forgot where home is."
Diversified Energy is proud to meet its stated commitment to retire at least 200 wells per year as well as provide plugging expertise and services to other operating companies and state agencies in the basin.
Through the acquisition of Next LVL Energy and other asset retirement assets, Diversified Energy has vertically integrated well retirement into the company's portfolio, becoming the largest asset retirement provider in the Appalachian region. Diversified has grown its internal capacity to 15 rigs, a 70 percent increase from this time last year, providing economic benefits of scale while helping to control costs and expand operations.
Learn more about Diversified's strategic focus on asset retirement HERE.
EDITOR'S NOTE: High resolution photos from the ribbon cutting event are attached for publication.
About Diversified Energy Company PLC: Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets. To learn more about the Birmingham, Alabama-headquartered company visit www.div.energy or follow the company on Twitter (@DEC_PLC) and LinkedIn.
Released February 4, 2023