We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Diamondback (FANG) Joins UN Program to Lower Methane Intensity
Read MoreHide Full Article
Diamondback Energy, Inc. (FANG - Free Report) recently stated that it has joined the Oil and Gas Methane Partnership (OGMP) 2.0, the premier oil and gas reporting and mitigation program run by the United Nations.
The goal of OGMP 2.0 is to improve the accuracy and transparency of methane emissions reporting in the oil and gas sector. The program is a comprehensive, measurement-based reporting framework. So far, 100 companies with assets across five continents, representing more than 35% of the world's oil and gas production, have entered the partnership.
In 2022, Diamondback had plans to install continuous emission monitoring systems at its facilities by the end of this year, covering at least 90% of its operating oil output. The company also aims to lower methane intensity from 2019 levels by at least 70% within 2024.
According to Travis Stice, Diamondback's chairman and chief executive officer, the company is pleased to join OGMP 2.0 and implement the emission reporting methodology across its asset base in the Permian Basin.
Giulia Ferrini, OGMP 2.0 project manager, UNEP welcomed the move by Diamondback and added that oil and gas companies must be part of the methane solution to restrict global warming to 1.5°C.
Some better-ranked stocks for investors interested in the energy sector are CVR Energy (CVI - Free Report) , Par Pacific Holdings Inc. (PARR - Free Report) , each sporting a Zacks Rank #1 and Murphy USA Inc. (MUSA - Free Report) carrying a Zacks Rank #2 (Buy).
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023.
Par Pacific, a growth-oriented company, combines knowledge of corporate financing with experience in the oil and gas sector. With 94,000 barrels per day of active refining capacity and a logistical system that includes an SPM, storage, barges, pipelines and trucking operations, PARR owns and manages one of Hawaii's biggest energy networks. Over the past 30 days, the company has witnessed an upward revision in earnings estimates for 2023 and 2024.
Murphy USA operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. This helps the company to get a lot more business than its competitors. Another significant competitive advantage for the firm is its access to product distribution centers and pipelines, which helps control costs in the intensely competitive retail sector. Over the past 30 days, MUSA has witnessed an upward revision in earnings estimates for 2024.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Diamondback (FANG) Joins UN Program to Lower Methane Intensity
Diamondback Energy, Inc. (FANG - Free Report) recently stated that it has joined the Oil and Gas Methane Partnership (OGMP) 2.0, the premier oil and gas reporting and mitigation program run by the United Nations.
The goal of OGMP 2.0 is to improve the accuracy and transparency of methane emissions reporting in the oil and gas sector. The program is a comprehensive, measurement-based reporting framework. So far, 100 companies with assets across five continents, representing more than 35% of the world's oil and gas production, have entered the partnership.
In 2022, Diamondback had plans to install continuous emission monitoring systems at its facilities by the end of this year, covering at least 90% of its operating oil output. The company also aims to lower methane intensity from 2019 levels by at least 70% within 2024.
According to Travis Stice, Diamondback's chairman and chief executive officer, the company is pleased to join OGMP 2.0 and implement the emission reporting methodology across its asset base in the Permian Basin.
Giulia Ferrini, OGMP 2.0 project manager, UNEP welcomed the move by Diamondback and added that oil and gas companies must be part of the methane solution to restrict global warming to 1.5°C.
Zacks Rank & Key Picks
Currently, Diamondback Energy carries a Zack Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks for investors interested in the energy sector are CVR Energy (CVI - Free Report) , Par Pacific Holdings Inc. (PARR - Free Report) , each sporting a Zacks Rank #1 and Murphy USA Inc. (MUSA - Free Report) carrying a Zacks Rank #2 (Buy).
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023.
Par Pacific, a growth-oriented company, combines knowledge of corporate financing with experience in the oil and gas sector. With 94,000 barrels per day of active refining capacity and a logistical system that includes an SPM, storage, barges, pipelines and trucking operations, PARR owns and manages one of Hawaii's biggest energy networks. Over the past 30 days, the company has witnessed an upward revision in earnings estimates for 2023 and 2024.
Murphy USA operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. This helps the company to get a lot more business than its competitors. Another significant competitive advantage for the firm is its access to product distribution centers and pipelines, which helps control costs in the intensely competitive retail sector. Over the past 30 days, MUSA has witnessed an upward revision in earnings estimates for 2024.