Diversified Energy Company PLC
LSE:DEC
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Diversified Energy Company PLC
Diversified Energy Co. Plc engages in the production and distribution of natural gas and crude oil. The company is headquartered in Birmingham, Alabama and currently employs 1,426 full-time employees. The company went IPO on 2017-02-03. The firm is engaged in the production, marketing and transportation of natural gas with onshore upstream and midstream assets. The firm owns and operates natural gas and oil wells in Appalachian Basin in the United States. The Company’s asset base is comprised of approximately 67,000 conventional and unconventional natural gas, natural gas liquids, and oil producing wells. Its portfolio contains approximately 17,000 miles of natural gas gathering pipelines and a network of compression stations and processing facilities. The Company’s field operations are located throughout the states of Tennessee, Kentucky, Virginia, West Virginia, Ohio, and Pennsylvania.
Diversified Energy Co. Plc engages in the production and distribution of natural gas and crude oil. The company is headquartered in Birmingham, Alabama and currently employs 1,426 full-time employees. The company went IPO on 2017-02-03. The firm is engaged in the production, marketing and transportation of natural gas with onshore upstream and midstream assets. The firm owns and operates natural gas and oil wells in Appalachian Basin in the United States. The Company’s asset base is comprised of approximately 67,000 conventional and unconventional natural gas, natural gas liquids, and oil producing wells. Its portfolio contains approximately 17,000 miles of natural gas gathering pipelines and a network of compression stations and processing facilities. The Company’s field operations are located throughout the states of Tennessee, Kentucky, Virginia, West Virginia, Ohio, and Pennsylvania.
Record EBITDA: Diversified Energy posted record quarterly adjusted EBITDA of $286 million, with a strong EBITDA margin of 66%.
Raised Guidance: The company increased full-year guidance by 7% for adjusted EBITDA ($900–925 million) and by 5% for adjusted free cash flow (over $440 million).
Cash Flow Strength: Free cash flow for the quarter was $144 million, despite $9 million in one-time and transaction costs.
Acquisition Momentum: The integration of Maverick Natural Resources is complete, and the Canvas Energy acquisition is expected to close before December.
Shareholder Returns: Returned $146 million to shareholders through dividends and buybacks, amounting to 15% of market cap; $2.2 billion has been returned since IPO.
Debt Reduction: Reduced debt principal by $203 million year-to-date, improving leverage ratio by 20% to within the 2x–2.5x target range.
NYSE Listing: Moving primary equity listing to the NYSE on November 24, expected to boost liquidity and U.S. investor exposure.
Plugging Fund Innovation: Launched a $70 million, 20-year plugging fund in West Virginia, covering 30% of asset retirement obligations, seen as a blueprint for future deals.
