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Stock impact report

Pioneer Energy Partners with Diversified Energy, Selected by the Department of Energy for a $5 Million Grant to Eliminate Emissions at Marginal Conventional Wells

Diversified Energy Company (DEC) 
Company Research Source: Business Wire
LAKEWOOD, Colo.--(BUSINESS WIRE)--Pioneer Energy announced today that in partnership with Diversified Energy (LSE:DEC)(NYSE:DEC), it has been selected by the U.S. Department of Energy (DOE) and the U.S. Environmental Protection Agency (EPA) for a $5 million award to adapt Pioneer’s Emission Control Treater™ (ECT) technology to eliminate flaring and emissions at marginal conventional wells (MCWs). This technology will be demonstrated by Diversified Energy Company at their field locations in East Texas.The Emission Control Treater (ECT) is a breakthrough well pad production technology that performs better separation than existing phase separators. As a result, there is no flash gas left in the crude and there is a lot less heavy NGLs left in the gas, increasing crude yield by 5-10%. The ECT is a closed system that completely processes the crude, resulting in zero routine flaring with no need for atmospheric storage tanks, achieving a near zero emissions production facility. This new Show less Read more
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