Diamondback Energy Inc. announced on March 27 that it has joined the United Nation’s Oil and Gas Methane Partnership (OGMP) 2.0, an environmental oil and gas reporting and mitigation program.
Over 100 companies representing 35% the world’s oil and gas production from five different continents have joined OGMP 2.0 in an effort to improve the accuracy and transparency of methane emissions in the oil and gas sector.
"Diamondback is proud to join OGMP 2.0 and apply its emission reporting framework to our asset base in the Permian Basin," stated Travis Stice, Diamondback chairman and CEO. "As we work towards achieving our emission reduction targets, it's paramount that we can rely on a framework that improves the accuracy and transparency of methane emissions reporting."
In 2022, Diamondback announced its commitment to add continuous emissions monitoring systems to its facilities for at least 90% of operated oil production by the end of 2023. By 2024, the company plans to have reduced methane intensity levels by 70% compared to 2019 levels.
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Headquartered in Midland, Texas, Diamondback Energy is an independent oil and natural gas company with assets in the Permian.
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