Pioneer Energy Partners with Diversified Energy, Selected by Department of Energy for $5 Million Grant to Eliminate Emissions at Marginal Conventional Sources
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 Agency- and the Environmental Protection Agency (EPA) for a $5 million award to adapt Pioneer’s Emission Control Treater™ (ECT) technology to eliminate flaring and limit emissions from conventional wells (MCWs). This technology will be demonstrated by Diversified Energy Company at its East Texas field sites.
The Emission Control Treater (ECT) is a revolutionary pad manufacturing technology that performs better separation than existing phase separators. As a result, there is no residual gas in the crude oil and there is much less heavy NGLs in the gas, increasing the crude oil yield by 5-10%. ECT is a closed system that fully processes crude oil, resulting in zero routine flaring without the need for atmospheric tanks, thus achieving a near-zero emission production facility. This new technology uses state-of-the-art cloud-connected automation, giving operators the ability to not only monitor their production, but also control it remotely from a centralized dashboard, saving on manpower, field trips and maintenance costs. Additionally, the ECT is modular, which allows for easier proper sizing of equipment over the life of the well. This results in better utilization of CAPEX and reduced total lifetime cost of ownership.
This award will provide funds to reduce the ECT for processing production from marginal wells. These mini-ECT units will be designed as low-cost replacements for surface infrastructure at marginal well production sites. The technology will be demonstrated for 12 months at several sites operated by Diversified Energy in the Valley Basin in East Texas.
We are delighted to have received support from the Department of Energy to help us commercialize ECT for marginal wells. We believe ECT can help extend the economic life of those wells while eliminating nearly all methane emissions and wasteful flaring, said Pioneer Energy Chief Executive Officer Eyal Aronoff. We look forward to working closely with DOE, as well as our partner, Diversified Energy, as we adapt ECT for this application, furthering America’s goals of harnessing new technology to improve domestic oil production while protecting the environment.
We are proud to partner with innovative emissions technology providers like Pioneer Energy that allow us to pave the way to improve emissions using transformative industry solutions, said Paul Espenan, Senior Vice President of EHS&R at Diversified Energy. By leveraging DOE’s support, along with our collaboration with Pioneer Energy, we have an application that provides a cost-effective implementation. The technology will allow us to demonstrate how effective, high-performance solutions provide Diversified with the opportunity to continue to be a leader with our approach to managing mature production assets.
DOE announcement:
US DEPARTMENT OF ENERGY AND US ENVIRONMENTAL PROTECTION AGENCY ANNOUNCE $850 MILLION TO REDUCE METHANE POLLUTION FROM THE OIL AND GAS SECTOR
https://content.govdelivery.com/accounts/USDOEOFE/bulletins/3c8852e
About Pioneer Energy
Pioneer Energy, Inc. is a provider of technologies that help the oil and gas industry increase production revenues and reduce operating costs, while also eliminating oilfield flaring and emissions. The company’s product lines include the Emission Control Treater™ (ECT), a zero-emission oil production system that increases crude oil production volumes; Pegasus field gas conditioning systems that save on fuel costs, reduce field operating costs, reduce emissions and improve uptime for well production and hydraulic fracturing operations; and equipment for capturing and processing flares. Pioneer’s systems help oil producers be good stewards of the environment while turning emissions into resources that help support domestic energy security. For more information, visit http://pioneerenergy.com/.
About Diversified Energy Company PLC
Diversified is a leading public energy company focused on liquids production, transportation, marketing and resource retirement. Through our unique and differentiated strategy, we acquire existing, long-lived assets and invest in them to improve environmental and operational performance until retirement of those assets in a safe and environmentally sound manner. Recognized by rating agencies and organizations for our leadership in sustainability, this solutions-focused management approach makes Diversified the right company at the right time to produce responsible energy, deliver reliable free cash flow and create shareholder value. For more information, visit https://www.div.energy/.
See the original version on businesswire.com: https://www.businesswire.com/news/home/20250109175798/en/
Nicole Lane, Corporate Relations Officer: nlane@pioneerenergy.com
Joseph E. Palaia, IV, Vice President of Business Development: jpalaia@pioneerenergy.com
Source: Pioneer Energy, Inc.
