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Diversified Energy and Pioneer Energy Jointly Secure a $5M DOE Grant
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Diversified Energy Company PLC (DEC - Free Report) , in collaboration with Pioneer Energy, has been selected by the U.S. Department of Energy (DOE) and the U.S. Environmental Protection Agency for a $5 million grant. The initiative has been taken for the seamless adoption of Emission Control Treater (ECT) technology, which eliminates flaring and emissions at marginal conventional wells.
Impact of ECT Technology
ECT is an innovative and breakthrough technology that performs better separation than the existing phase separators, resulting in increased crude yield by 5-10%. The ECT completely processes the crude results in a near-zero-emissions production facility. The new technology utilizes cloud-connected automation that can enable remote monitoring, saving manpower and maintenance costs. ECT will help improve the economic life of the wells as well as eliminate methane emissions and wasteful flaring. The ECT technology will help to accomplish the nation’s goal of improving domestic oil production while protecting the environment.
How Will the Grant Help the Companies?
The grant will help the companies with the necessary funds to scale down the ECT to process production from marginal wells. It will also help the companies to design the ECT units as an inexpensive replacement for surface infrastructure. The new groundbreaking technology will be demonstrated by DEC on several sites in the Cotton Valley Basin in East Texas.
DEC’s Zacks Rank and Key Picks
Birmingham-based Diversified Energy Company is an energy company focused on natural gas and liquids production, transport, marketing and well retirement. Currently, DEC has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Coterra Energy Inc. (CTRA - Free Report) ,ARC Resources Ltd. (AETUF - Free Report) and Gulfport Energy Corporation (GPOR - Free Report) .While Coterra Energy currently sports a Zacks Rank #1 (Strong Buy), ARC Resources and Gulfport Energyeach carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Houston, TX-based Coterra Energy is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. CTRA’s expected EPS (earnings per share) growth rate for the next five years is 10.10%, which aligns favorably with the industry growth rate of 8.30%.
Calgary, Canada-based ARC Resources is engaged in the exploration, acquisition and development of oil and natural gas properties. AETUF’s expected EPS growth rate for next year is 50.78%, which aligns favorably with the industry growth rate of 11.60%.
Gulfport Energy is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America. The Zacks Consensus Estimate for GPOR’s 2024 earnings indicates 108.09% year-over-year growth.
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Diversified Energy and Pioneer Energy Jointly Secure a $5M DOE Grant
Diversified Energy Company PLC (DEC - Free Report) , in collaboration with Pioneer Energy, has been selected by the U.S. Department of Energy (DOE) and the U.S. Environmental Protection Agency for a $5 million grant. The initiative has been taken for the seamless adoption of Emission Control Treater (ECT) technology, which eliminates flaring and emissions at marginal conventional wells.
Impact of ECT Technology
ECT is an innovative and breakthrough technology that performs better separation than the existing phase separators, resulting in increased crude yield by 5-10%. The ECT completely processes the crude results in a near-zero-emissions production facility. The new technology utilizes cloud-connected automation that can enable remote monitoring, saving manpower and maintenance costs. ECT will help improve the economic life of the wells as well as eliminate methane emissions and wasteful flaring. The ECT technology will help to accomplish the nation’s goal of improving domestic oil production while protecting the environment.
How Will the Grant Help the Companies?
The grant will help the companies with the necessary funds to scale down the ECT to process production from marginal wells. It will also help the companies to design the ECT units as an inexpensive replacement for surface infrastructure. The new groundbreaking technology will be demonstrated by DEC on several sites in the Cotton Valley Basin in East Texas.
DEC’s Zacks Rank and Key Picks
Birmingham-based Diversified Energy Company is an energy company focused on natural gas and liquids production, transport, marketing and well retirement. Currently, DEC has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Coterra Energy Inc. (CTRA - Free Report) ,ARC Resources Ltd. (AETUF - Free Report) and Gulfport Energy Corporation (GPOR - Free Report) .While Coterra Energy currently sports a Zacks Rank #1 (Strong Buy), ARC Resources and Gulfport Energyeach carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Houston, TX-based Coterra Energy is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. CTRA’s expected EPS (earnings per share) growth rate for the next five years is 10.10%, which aligns favorably with the industry growth rate of 8.30%.
Calgary, Canada-based ARC Resources is engaged in the exploration, acquisition and development of oil and natural gas properties. AETUF’s expected EPS growth rate for next year is 50.78%, which aligns favorably with the industry growth rate of 11.60%.
Gulfport Energy is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America. The Zacks Consensus Estimate for GPOR’s 2024 earnings indicates 108.09% year-over-year growth.