08:44 AM EDT, 10/16/2025 (MT Newswires) -- Diversified Energy ( DEC ) and West Virginia Governor Patrick Morrisey said Thursday that they have entered into a partnership to establish a financial assurance fund for retiring oil and gas wells.

Diversified will invest $70 million over 20 years into the Mountain State Plugging Fund, the parties said.

Diversified has agreed to retire at least 1,500 wells in the first 20 years as the Mountain State Plugging Fund is established, increasing to a goal of 250 wells annually, the parties said.

Diversified will also increase investment in its Next LVL Energy unit to boost well retirement capacity within the Appalachian Basin, they added.

Shares of the company were up 1.8% in recent Thursday premarket activity.