Diversified Energy reports strong Q3 performance and strategic growth initiatives [Video]

Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) CEO Rusty Hutson Jr. joined Steve Darling from Proactive to shared positive updates in its Q3 trading results, highlighting both strong operational performance and strategic growth moves. For the quarter ending September 30, 2024, Diversified reported an average production of 829 million cubic feet equivalent per day (MMcfepd), with an exit rate of 851 MMcfepd in September. The company’s quarterly operating cash flow reached $102 million, while earnings totaled $115 million.

However, non-cash impairments led to a net loss of $1 million. Additionally, Diversified entered a fixed-price gas delivery contract with a major Gulf Coast LNG export facility, supporting long-term revenue stability. Year-to-date, the company generated approximately $23 million in cash flow by divesting undeveloped leasehold interests and ventured into Coal Mine Methane (CMM) capture, an adjacent market poised to contribute $8-10 million in EBITDA for 2024 through environmental credit sales.

The company is making strides in its commitment to …