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West Virginia and Diversified Energy Launch First-Of-Its-Kind Well Plugging Fund
West Virginia and Diversified Energy Launch First-Of-Its-Kind Well Plugging Fund The “Mountain State Plugging Fund” is a groundbreaking partnership that provides financial assurance for oil and gas well retirement at no cost to taxpayers CHARLESTON, West Virginia and BIRMINGHAM, Alabama, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Governor Patrick Morrisey, in partnership with Diversified Energy (NYSE & LSE: DEC), today announced a groundbreaking agreement to establish the nation’s first financial assuran
About this update from Diversified Energy Company
[{"type":"text","content":"West Virginia and Diversified Energy Launch First-Of-Its-Kind Well Plugging Fund","length":80,"tagName":"p"},{"type":"text","content":"The “Mountain State Plugging Fund” is a groundbreaking partnership that provides financial assurance for oil and gas well retirement at no cost to taxpayers","length":156,"tagName":"p"},{"type":"text","content":"CHARLESTON, West Virginia and BIRMINGHAM, Alabama, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Governor Patrick Morrisey, in partnership with Diversified Energy (NYSE & LSE: DEC), today announced a groundbreaking agreement to establish the nation’s first financial assurance fund dedicated to retiring oil and gas wells. This public-private collaboration solidifies the Company’s commitment to fiscal responsibility and financial means for future well retirement and provides the public with assurances that West Virginia companies will be good stewards of the environment. Known as the Mountain State Plugging Fund, this innovative initiative further ensures that Diversified’s oil and natural gas wells in West Virginia will be safely retired at no cost to taxpayers, setting a new responsible stewardship standard for aging energy infrastructure across the United States.","length":868,"tagName":"p"},{"type":"text","content":"This landmark fund represents a $70 million commitment over 20 years from Diversified Energy to the State of West Virginia and ensures long-term environmental stewardship and economic sustainability. The fund is part of West Virginia’s proactive approach to energy policy, while also providing a continued focus on environmental safety for its residents, positioning the Mountain State as a national leader in innovative energy solutions.","length":438,"tagName":"p"},{"type":"text","content":"In conjunction with this agreement, Diversified will bolster its investment in its wholly owned subsidiary, Next LVL Energy, to grow its already leading well retirement capacity within the Appalachian Basin, creating jobs and meaningful economic impact in the region.","length":267,"tagName":"p"},{"type":"text","content":"“I’m proud to announce this transformative partnership with Diversified Energy, a company started right here in West Virginia,” said Governor Morrisey. “The Mountain State Plugging Fund is a bold step forward — delivering high-paying jobs as well as environmental and economic benef...