From GlobeNewswire: 2025-03-17 04:01:00

Diversified Energy Company PLC achieved strong final year-end 2024 results, executing $2 billion acquisitions and maintaining consistent operating costs despite industry pressures. Maverick integration is expected to drive free cash flow acceleration. The company created a PDP solution for upstream peers and introduced a 2025 combined company outlook following the acquisition of Maverick.

Diversified Energy Company PLC delivered an average net daily production of 791 MMcfepd in 2024 with a year-end exit rate of 864 MMcfepd. The company reported $346 million in operating cash flow, $87 million net loss, and $472 million in adjusted EBITDA for 2024. Adjusted EBITDA margin was 51%, with operating costs of $1.70/Mcfe.

In 2024, Diversified Energy Company PLC achieved expectations by retiring over $200 million in debt principal, returning $105 million to shareholders, and completing $585 million in acquisitions. The company retired 202 wells in Appalachia, reduced methane intensity, and obtained OGMP Gold Standard and MSCI AA Rating.

The acquisition of Maverick Natural Resources and assets from Summit Natural Resources marked a powerful step forward for Diversified Energy Company PLC. Anticipated synergies are expected to exceed $50 million by year-end 2025. The company plans to enhance free cash flow growth through natural gas hedges and divestiture of undeveloped leasehold.

CEO Rusty Hutson, Jr. praised Diversified’s operational and financial performance in 2024, highlighting the company’s focus on value creation, growth, and vertical integration. The company is positioned for continued growth and success in the energy industry.

Diversified Energy Company PLC has published its 2024 Annual Report and Notice of AGM on its website. The AGM is scheduled for April 9, 2025, and a conference call will be held today to discuss the results. The company continues to focus on responsible energy production, reliable cash flow generation, and shareholder value.



Read more at GlobeNewswire:: Final Results for the Year-Ended December 31, 2024