Business
Diversified Energy Reports Strong First Quart...
Diversified Energy Reports Strong First Quart....
About this update from Diversified Energy Company
[{"type":"text","content":"\n\n \n \n\n Diversified Energy Reports Strong First Quarter 2025 Results Driven by Increased Top-Line Revenue Generation and Operational Discipline\n\nMaintaining Momentum into Second Quarter 2025 and Remain on Track to Achieve Full Year 2025 Guidance Closed Maverick Acquisition Continuing to Execute our Strategy as the PDP Champion Returned Over $59 million to Shareholders Through Dividends and Repurchases Year to Date BIRMINGHAM, Ala., May 12, 2025 (GLOBE NEWSWIRE) -- Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) is pleased to announce the following operations and trading update for the quarter ended March 31, 2025. **Consolidated operational & financial results for the quarter include only two weeks of Maverick Natural Resources (“Maverick”) contribution** Executing Strategic Objectives Closed transformational and accretive acquisition of Maverick Natural Resources Approximately doubling revenues and free cash flow Strengthened balance sheet and increased liquidity Credit facility borrowing base of $900 million with $451 million of current undrawn capacity and unrestricted cash; current leverage ratio of ~2.7x Retired $51 million of debt principal through amortizing debt payments during Q1 2025Returned over $59 million year-to-date to shareholders through dividends and share repurchases(a) Declared 1Q25 dividend of $0.29 per shareRepurchased ~1.5 million shares year-to-date in 2025, representing ~$19 million of share buybacks(a) Advantageously added natural gas hedge volumes in 2026 through 2029 during recent strength in forward curveOn track to exceed $40 million in targeted land sales during the first half of 2025Realized additional Coal Mine Methane (CMM) alternative energy credits with acquired assets from Summit Natural ResourcesNext LvL Energy collaborated with the State of West Virginia regulatory agencies to modernize well retirement procedures using a method that is environmentally sound, safe, and cost-effective Maverick Integration Full field level integration anticipated by the end of the second quarter with technology, and administrative integration anticipated by the end of the third quarter 2025On track to exceed the annualized synergy target of over $50 million High-graded staffing and reduced redundancies to capture efficiencies and cost savingsContract savings providing impacts in compression and...