Diversified Energy Company · NYSE:DEC

Diversified Energy — Investor Presentation (June 2025)

67 slides from Diversified Energy's investor presentation, June 2025

  1. Slide 1: Right Company, Right Time

    Right Company, Right Time A Solutions Based Approach to Responsibly Produce Energy & Create Shareholder Value June 2025

  2. Slide 2: Disclaimer

    The information contained in this document (the "Presentation") has been prepared by Diversified Energy Forward-looking statements speak only as of their date and neither the Company nor the Group nor any of its respective Company PLC (“Diversified” or the "Company”). This Presentation is for genera

  3. Slide 3: Who Are We: Operator of U.S. Onshore Developed Assets

    WHO ARE WE: OPERATOR OF U.S. ONSHORE DEVELOPED ASSETS Appalachian Region: Appalachian Investment Highlights ~35% of Production Basin Growth Through Accretive Acquisitions Total Combined Production: ✓ Production has increased >30x since 2017 IPO(c); ~$585mm of acquisitions in 2024 ~1.2 Bcfe/d(a) at a

  4. Slide 4: The Publicly Traded Champion of the PDP Subsector

    THE PUBLICLY TRADED CHAMPION OF THE PDP SUBSECTOR Dynamic Multi-Basin Rollup Strategy Demonstrated Commitment to Returns Extensive operational footprint establish platform to Returns-focused model prioritizes Free Cash Flow for capture value by acquiring assets at attractive debt reduction, dividend

  5. Slide 5: Relentless Focus on Increasing Value

    RELENTLESS FOCUS Q1 2025 Exit Rate Production of 1,149 MMcfe/d • First Quarter 2025 average production of 864 MMcfe/d ON INCREASING VALUE • Maintained consolidated production decline of ~10% per year Financial & Operating Highlights Q1 2025 Total Revenue, Inclusive of Hedges of $295 million • Total

  6. Slide 6: Coal Mine Methane – Adding Cash Flow, Expanding Multiple

    COAL MINE METHANE – ADDING CASH FLOW, EXPANDING MULTIPLE Adding Revenue Streams Expanding Opportunity Set Leveraging Existing Assets Creating Net Zero Gas Alternative Energy Credits (“AEC”) Diversified is actively engaging Suitability of owned infrastructure Complementary to our provide high-margin

  7. Slide 7: Strategic Partnership Grows Coal Mine Methane Opportunity

    STRATEGIC PARTNERSHIP GROWS COAL MINE METHANE OPPORTUNITY Accelerated Data Center Deployment Supplying up to 360 megawatts of electricity in Kentucky, Virginia and West Virginia ✓ Expected to provide on-site, continuous power generation ✓ Scalable with demand ✓ Secures data center uptime even in vol

  8. Slide 8: Executing on Our Strategy - Creating Value in Q1 2025

    EXECUTING ON OUR STRATEGY- CREATING VALUE IN Q1 2025 Systematic Debt Reduction Strategic Share Repurchases $51 million ~$19 million of debt principal payments value of shares repurchased(a) Fixed per-share Dividend Accretive Acquisitions ~$40 million ~$2 billion in Dividend Distributions of recently

  9. Slide 9: Disciplined Strategy

    Disciplined Strategy Positioned to Take Advantage of Opportunities and Navigate Commodity Price Cycles

  10. Slide 10: Delivering on a De-Risked Production Model

    DELIVERING ON A DE-RISKED PRODUCTION MODEL Commodity Price Risk Diversified’s business model reduces ✓ Dynamic hedging sustains realized pricing and delivers exposure to typical industry risk factors consistent cash margins Oil & Gas Development Risk Spectrum High Risk Low Risk Development/Operation

  11. Slide 11: A Distinctively Capital-Efficient Business Model

    A DISTINCTIVELY CAPITAL-EFFICIENT BUSINESS MODEL 44% Annual Production Decline (%) Peer Average 33% 35% 30% 25% 26% 22% 24% ~10% DEC Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Capital 11% 73% 57% 58% 91% 83% 64% 110% Intensity Superior Capital Intensity Enhanced Free Cash Flows Greater Value C

  12. Slide 12: Built to Deliver Strong Cash Margins in Any Price Environment

    BUILT TO DELIVER STRONG CASH MARGINS IN ANY PRICE ENVIRONMENT $6.64 Margin Enhancement Through Acquisition of Pipeline Infrastructure 54% Acquired Summit pipeline assets enhance access 53% 53% 53% 50% 50% 51% to premium-priced Transco Zone 5 sales points Average Henry Hub Price Cash Margins (Hedged)

  13. Slide 13: Committed to Delivering a Foundation of Free Cash Flow

    COMMITTED TO DELIVERING A FOUNDATION OF FREE CASH FLOW 51% 45% 42% 38% 34% Quarter Ended March 31, 2025 Free Cash Flow Conversion 13% 2% Diversified leads Natural Gas E&Ps in Free Cash Flow conversion with 3x the peer group average and BETTER than companies with significantly larger market capitaliz

  14. Slide 14: Leverage Appropriate & Tracks to Business Model Attributes

    LEVERAGE APPROPRIATE & TRACKS TO BUSINESS MODEL ATTRIBUTES Leverage Profile Typical of Consistent Generation of Strategy Characterized by High Margin Sectors Meaningful Cash Flow Low Capital Intensity 5.7x $585 million of acquisitions in 2024, primarily debt-financed Net Debt / Adj. EBITDA (x) 4.8x

  15. Slide 15: Strategic Rationale for ABS Financings

    STRATEGIC RATIONALE FOR ABS FINANCINGS Diversified’s long-life, low-decline and high-quality reserves Provides stable and predictable cash flows for investors ABS Benefits to Diversified An established track record of stable asset performance Key Attributes for Investors Characteristics of Diversifi

  16. Slide 16: Unlocking Value of Undeveloped Acreage

    UNLOCKING VALUE OF UNDEVELOPED ACREAGE 9.5 Million Net Acres within Operating Footprint Significant Oklahoma Leasehold Position 99.9% of all acreage currently held-by-production with With ~$23 million of land sales recorded in 2024(b) minimal portfolio exposure to state or federal lands Undeveloped

  17. Slide 17: Innovative Asset Sale Provides Liquidity and Reduces Debt

    INNOVATIVE ASSET SALE PROVIDES LIQUIDITY AND REDUCES DEBT Illustrative Liquidity Enhancement Industry-First Transaction Series1 $90 million Liquidity Enhancement in liquidity uplift $30 Unlocks Value of Assets ✓ First-in industry sale of equity cash flows on amortizing debt $60 $150 ✓ Robust economi

  18. Slide 18: Strengthening Value Chain with Long-Life Infrastructure Assets

    STRENGTHENING VALUE CHAIN WITH LONG-LIFE INFRASTRUCTURE ASSETS Strategic Purchase in April 2022 BLACK BEAR Processing Facility Acquired for $10 million includes two processing DeSoto Parish, LA (central region) Cotton Valley and Haynesville Basins plants and FERC regulated NGL pipeline Increased Pro

  19. Slide 19: Realizing Geographic Benefits with LNG Exporter

    REALIZING GEOGRAPHIC BENEFITS WITH LNG EXPORTER Inaugural Contract Highlights Opportunity Set Positioned for Gulf Coast LNG Exports Proximity of assets to Gulf Coast makes Diversified an ideal partner to supply natural gas to global LNG exporters Asset location ideal for additional LNG supply agreem

  20. Slide 20: Acquisition Update

    Acquisition Update Transactions Increase Scale and Improve Margins

  21. Slide 21: Growth in Scale Through Successful Acquisition Strategy

    GROWTH IN SCALE THROUGH SUCCESSFUL ACQUISITION STRATEGY (a) Daily Production (MMcfe/d) 30x Growth in Production 1,20 2 811 821 711 599 50 9 246 39 2017 2018 2019 2020 2021 2022 2023 2024PF 2024 2017 2018 2019 2020 2021 2022 2023 2025 pro forma Acquisition History IPO on AIM Uplist to Entry to Initia

  22. Slide 22: Corporate Infrastructure… Our Valuable Advantage

    CORPORATE INFRASTRUCTURE… OUR VALUABLE ADVANTAGE Unique Infrastructure PLATFORM Built to be Accretive Consolidator Field Operations Midstream/Marketing Corporate Emissions Reduction Well Retirement Significant Operating Scale Top 25 Natural Gas Marketer Production Support Suite Deploying Cutting Edg

  23. Slide 23: Growth Through Low-Risk, Low-Decline Production

    GROWTH THROUGH LOW-RISK, LOW-DECLINE PRODUCTION Oaktree Capital Mgmt. $410 Million Added Operating Scale in Central Region More than 350 MMcfepd of production in 2024 acquisitions Net Purchase Price $377 million 3.0x that benefits from operations-focused strategy Net Production 122 MMcfepd NTM EBITD

  24. Slide 24: Summit Acquisition Grows Coal Mine Methane Revenues

    SUMMIT ACQUISITION GROWS COAL MINE METHANE (“CMM”) REVENUES Uniquely Positioned to Generate CMM Revenues CMM Revenues Set to Triple in 24 Months (USD Millions per Year) Suitability of owned assets reduces need for up-front capex or additional operating costs to maintain revenue stream + 300% $24 Inc

  25. Slide 25: A Compelling Opportunity: Maverick Natural Resources

    A COMPELLING OPPORTUNITY: MAVERICK NATURAL RESOURCES Number of Operated Basins Current Production (MMcfe/d)(a) Increases production by ~40%, liquid weighting by Multi-Dimensional Value Overlap in Anadarko and Ark-La-Tex; Entry to Permian ~70% Liquids Production Creation 5 1,202 4 851 3 ✓ Commodity D

  26. Slide 26: Acquisition Drives Significant Free Cash Flow Growth

    ACQUISITION DRIVES SIGNIFICANT FREE CASH FLOW GROWTH Complementary Cash Flow Profiles Adjusted Free Cash Flow(a) Robust and sustainable cash flow profiles from Diversified (USD Millions) and Maverick provide platform for continued value creation $420 ~200% Benefits of Low Declines Differentiated, in

  27. Slide 27: Adding Attractive Undeveloped Optionality in Portfolio

    ADDING ATTRACTIVE UNDEVELOPED OPTIONALITY IN PORTFOLIO Combined Western Anadarko Position Creating Strategic Optionality in Capital Deployment Total combined undeveloped acres including the attractive Cherokee interval provides high-return capital deployment option to supplement acquisitions Partner

  28. Slide 28: New Life for Existing Producing Assets

    New Life for Existing Producing Assets Implementing Innovate Strategies and Promoting Technological Improvements

  29. Slide 29: Modernizing Operations Through Technology

    MODERNIZING OPERATIONS THROUGH TECHNOLOGY Modern Field Developing a Scalable Platform Management Philosophy with Low Total Cost of Ownership ✓ Common Systems enhance process efficiency, reliability ✓ Cloud First / Wireless First eliminate technical debt, and improves data collection, warehousing and

  30. Slide 30: Operational Insights Driven by Technology Investments

    OPERATIONAL INSIGHTS DRIVEN BY TECHNOLOGY INVESTMENTS Well-Level Data Capture Cloud-Based Infrastructure Real-Time Monitoring Emissions Detection Data + Human interaction of Enables remote access to data, Leverage data visualization and Invest in emissions detection wellhead LTE connectivity, elimin

  31. Slide 31: Enhancing Cash Flows with Smarter Asset Management

    ENHANCING CASH FLOWS WITH SMARTER ASSET MANAGEMENT Supply Contracts with LNG Exporters Wholly-Owned Processing Facilities ✓ Establishes premium to regional pricing ✓ Eliminates third-party processing costs ✓ Supplements robust hedging strategy ✓ Creates supplemental revenue streams Inaugural LNG exp

  32. Slide 32: Focus on Scale & Vertical Integration Yields Cost Efficiencies

    FOCUS ON SCALE & VERTICAL INTEGRATION YIELDS COST EFFICIENCIES Adjusted Operating Cost per Unit High Working Interest Benefits Cost Control ($/Mcfe) PDP strategy focuses on efficient operation of existing assets through implementation of Smarter Asset Management $1.86 $1.80 $1.73 Leveraging Technolo

  33. Slide 33: Quickly Establishing Post-Acquisition Efficiencies

    QUICKLY ESTABLISHING POST-ACQUISITION EFFICIENCIES Leveraging Scale for Meaningful G&A Efficiencies Progress of Synergy Capture & Opportunities Full field level integration anticipated by end of second quarter; technology & administrative by end of third quarter Achieved Driving Operating Cost Reduc

  34. Slide 34: A Differentiated Strategy Focused on Existing Production

    A DIFFERENTIATED STRATEGY FOCUSED ON EXISTING PRODUCTION Smarter Asset Management (“SAM”) Drives Ongoing Value Daily operational efforts increase efficiencies and reduce environmental impact The Result of a Unique Focus on Existing Production Rather than emphasize development, field personnel remain

  35. Slide 35: Smarter Asset Management in Action

    SMARTER ASSET MANAGEMENT IN ACTION Central Region Workovers Improve Production Case Study: Impact of 2023 Workovers ✓ Includes capitalized and expensed maintenance Central Region, Capitalized and Expensed ✓ High-return projects pay back in under two months ✓ Offsets declines, extends economic produc

  36. Slide 36: Creating Value Across Operating Regions

    CREATING VALUE ACROSS OPERATING REGIONS West Virginia Well (Hz) Multiple Operating Regions = Multiple Resource Pools Mcf/d Expansion to the Central Region increased the potential for 3,200 Prior Production After Optimisation knowledge-sharing and transfer of available inventory 2,700 2,200 1,700 Ope

  37. Slide 37: Priorities & Performance

    Priorities & Performance Unlocking the Path to Emissions Improvement and Measurable Impact

  38. Slide 38: Continued Commitment to Strong Sustainability Practices

    CONTINUED COMMITMENT TO STRONG SUSTAINABILITY PRACTICES GOLD Disclosed State-by-State Enhanced Biodiversity & Published 2023 ESG 2023 Best ESG Report Achieved ‘AA’ Rating Awarded OGMP 2.0 Economic Analysis Climate Risk Disclosures Performance Objectives from ESG Awards from MSCI Analytics Gold Stand

  39. Slide 39: Achieved 2030 Target for Scope 1 Methane Emissions Intensity

    ACHIEVED 2030 TARGET FOR SCOPE 1 METHANE EMISSIONS INTENSITY Focus on Reducing Methane Emissions Leak Detection, Quantification & Repair Pipeline Integrity Enhancements Carbon Credits Aerial LiDAR Remote Monitoring Renewable Energy Pneumatic Conversions Smarter Asset Management Future Technologies B

  40. Slide 40: Deployed Methane Detection Technology

    DEPLOYED METHANE DETECTION TECHNOLOGY Teledyne FLIR Si124(a) Teledyne FLIR GT-44 We are leaders in methane detection an industrial acoustic imaging a handheld detection device camera capable of locating capable of detecting leaks as pressurized leaks up to 10 small as one PPM, currently • Fit for pu

  41. Slide 41: Investing in Emissions Resources: Fixed Detectors

    INVESTING IN EMISSIONS RESOURCES: FIXED DETECTORS Deploying Continuous Monitors Technology Nubo Sensirion Qube Primary Use Continuous Leak Detection Continuous Leak Detection & Measurement Measurement Range • 2 ppm plus • 0.1 scfh plus Usage • OGMP 2.0 & Proactive • OGMP 2.0 & Proactive • Dashboard

  42. Slide 42: 2023 Field Trials - New Technology: Laser Optical Gas Imaging

    2023 FIELD TRIALS - NEW TECHNOLOGY: LASER OPTICAL GAS IMAGING (OGI) • Working collaboratively with states to address federal requirements • Held technical meetings in 2023 • Conducted multiple field trials in 2023 with efficient Laser OGI • Opportunity: o Efficient inspections with minimal instructi

  43. Slide 43: Next LVL Energy: Setting a New Standard for Retirement

    NEXT LVL ENERGY: SETTING A NEW STANDARD FOR RETIREMENT Differentiated Outlook on Asset Retirement Stewardship from acquisition to retirement ensures Positioned to Lead in sustainable operations for the lifetime of assets Appalachian Asset Retirement As a wholly-owned subsidiary of Diversified, Next

  44. Slide 44: Working to Make Assets Out of Liabilities

    WORKING TO MAKE ASSETS OUT OF LIABILITIES Energy Transition Opportunities • Expansion of retirement options leveraging CCUS Carbon Credits • Repurposing assets without the need to retire Strategically timed retirement of • Commercial benefits and advancement to net zero wells has the potential to ge

  45. Slide 45: Powerful Path Forward for 2025 and Beyond

    Powerful Path Forward for 2025 and Beyond The Only Publicly Traded Champion of the PDP Subsector

  46. Slide 46: Changing the Mindset of Modern Production Management

    CHANGING THE MINDSET OF MODERN PRODUCTION MANAGEMENT Diversified IS… Diversified IS NOT… A responsible steward of PDP assets which leverages technology A negligent operator of aging properties that disregards and scale to enhance operations and mitigate or reduce emissions individual well performanc

  47. Slide 47: "And" – We Can Deliver Results to Multiple Stakeholders

    “AND” – WE CAN DELIVER RESULTS TO MULTIPLE STAKEHOLDERS Generation of High Cash Margins Reduction of Methane Emissions ✓ Modern field management drives efficient operations ✓ Every molecule retained increases sale volumes ✓ PDP strategy at scale produces significant and sustainable cash margins due

  48. Slide 48: Building a Strategic, Resilient Energy Producer

    BUILDING A STRATEGIC, RESILIENT ENERGY PRODUCER Scaling a Differentiated Business Model: Right Company at the Highly accretive & strategic acquisitions enhance margins and unlock potential for Right Time….. cost synergies proving additional cash flows Delivering Shareholder Benefits: Leveraging reli

  49. Slide 49: A Powerful Step Forward - 2025 Combined Company Outlook

    A POWERFUL STEP FORWARD- 2025 COMBINED COMPANY OUTLOOK 2025 Guidance Range(a) 2025 Pro Forma Commentary(b) Low High Total Production (Mmcfe/d) 1,050 1,100 Pro Forma midpoint production guidance of % Liquids 25% ~1,150 Mcfe/d (including full-year impact of Maverick acquisition) % Natural Gas 75% Adj.

  50. Slide 50: Appendix

    Appendix

  51. Slide 51: Commodity Derivatives Portfolio (as of March 18, 2025)

    COMMODITY DERIVATIVES PORTFOLIO (AS OF MARCH 18, 2025) Natural Gas 2025 $3.57/Mcf 2026 $3.44/Mcf 2027 $3.40 Mcf Annual Summary(a) Natural Gas Financial Derivatives Contracts Natural Gas (MMBtu, $/MMBtu) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 FY25 FY26 FY27 FY28 NYMEX NG Swaps(b) Volume 66,228,908 6

  52. Slide 52: Commodity Derivatives Portfolio (as of March 18, 2025)

    COMMODITY DERIVATIVES PORTFOLIO (AS OF MARCH 18, 2025) NGLs 2025 $35.97/bbl 2026 $33.87/bbl 2027 $32.55/bbl Annual Summary Oil 2025 $69.71/bbl 2026 $67.28/bbl 2027 $64.80/bbl Annual Summary Natural Gas Liquids Financial Derivatives Contracts NGL (bbl, $/bbl) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 F

  53. Slide 53: Robust Margins in Any Price Environment

    ROBUST MARGINS IN ANY PRICE ENVIRONMENT Total Revenue, Inclusive of Hedges Adjusted Operating Cost per Unit Hedged to Maintain Pricing 2024 hedge settlements of $151 Mn mitigated commodity price impact 53% 51% $1,024 Mn Cash Margin Cash Margin $946 Mn $1.69/Mcfe $1.70/Mcfe Efficiency in Unit Costs (

  54. Slide 54: Differentiated and Naturally Deleveraging Debt Profile

    DIFFERENTIATED AND NATURALLY DELEVERAGING DEBT PROFILE -14% -28% -40% -53% -64% -78% -88% -93% -100% ~$310 ~$300 USD Millions ~$265 ~$265 ~$240 ~$315 ~$205 ~$120 ~$145 2025 2026 2027 2028 2029 2030 2031 2032 2033 Naturally aligned with Diversified’s Diversified retains 100% operational Creates clear

  55. Slide 55: Significant Equity Value Associated with Amortizing Debt

    SIGNIFICANT EQUITY VALUE ASSOCIATED WITH AMORTIZING DEBT Gross Debt PV-10 Comparison of Gross Debt to PV-10 Value Instrument (USD Millions) 12/31/2024 12/31/2024 Credit Facility $284.4 $779.0 $3,320 ~205% ABS I $80.2 $306.0 ABS II $102.4 $416.5 ABS IV $79.7 $115.5 ABS VI $242.0 $401.5 $1,621 ABS VII

  56. Slide 56: Select Metrics for Maverick Natural Resources

    SELECT METRICS FOR MAVERICK NATURAL RESOURCES (AS OF DECEMBER 31,2024) For the Three Months Ended December 31, 2024 Average Daily Production (MMcfe/d) 359 For the Twelve Months Ended (000’s USD) December 31, 2024 Net Income ($77,402) Adjusted EBITDA $336,902 Net Cash provided by Operating Activities

  57. Slide 57: Revenue Reconciliation (Non-IFRS)

    REVENUE RECONCILIATION (NON-IFRS) (UNAUDITED) 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 Units 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY2024 1Q25 Production: Natural gas (MMcf) 63,815 68,053 63,114 61,396 256,378 55,725 58,684 64,288 65,601 244,298 63,468 Oil (MBbls) 399 339 339 30

  58. Slide 58: Expense Reconciliation (Non-IFRS)

    EXPENSE RECONCILIATION (NON-IFRS) (UNAUDITED) 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 Units 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 4Q24 FY24 1Q25 Production: Natural gas (MMcf) 63,815 68,053 63,114 61,396 256,378 55,725 58,684 64,288 65,601 244,298 63,468 Oil (MBbls) 399 339 339 300

  59. Slide 59: Supplemental Financials

    Supplemental Financials For the Year Ended December 31, 2024

  60. Slide 60: Consolidated Statement of Comprehensive Income

    CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Audited Year Ended Year Ended December 31, 2024 December 31, 2023 Revenue $ 794,841 $ 868,263 Operating expense (428,902) (440,562) Depreciation, depletion and amortization (256,484) (224,546) Gross profit 109,455 203,155 General and administrative expe

  61. Slide 61: Consolidated Balance Sheet

    CONSOLIDATED BALANCE SHEET Audited Audited December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 ASSETS EQUITY AND LIABILITIES Non-current assets: Shareholders' equity: Natural gas and oil properties, net 2,905,702 $ 2,490,375 Share capital 13,796 $ 12,897 Property, plant and equip

  62. Slide 62: Consolidated Statement of Cash Flows

    CONSOLIDATED STATEMENT OF CASH FLOWS Audited Audited Year Ended Year Ended Year Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Cash flows from operating activities: Cash flows from investing activities: Net income (loss) $ (87,001) $ 759,701 Consideration fo

  63. Slide 63: Alternative Performance Metrics

    ALTERNATIVE PERFORMANCE METRICS Adjusted EBITDA As used herein, EBITDA represents earnings before interest, taxes, depletion, depreciation and amortization. adjusted EBITDA includes adjusting for items that are not comparable period-over-period, namely, accretion of asset retirement obligation, othe

  64. Slide 64: Alternative Performance Metrics

    ALTERNATIVE PERFORMANCE METRICS Net Debt and As used herein, net debt represents total debt as recognized on the balance sheet less cash and restricted cash. Total debt includes our borrowings under the Credit Facility and borrowings under or issuances of, as applicable, our subsidiaries’ securitiza

  65. Slide 65: Alternative Performance Metrics

    ALTERNATIVE PERFORMANCE METRICS Total Revenue, Inclusive of Settled Hedges and As used herein, total revenue, inclusive of settled hedges, includes the impact of derivatives settled in cash. We believe that total revenue, inclusive of settled hedges is a useful because it enables investors to discer

  66. Slide 66: Alternative Performance Metrics

    ALTERNATIVE PERFORMANCE METRICS Adjusted Operating Cost per Boe Adjusted operating cost per Mcfe is a metric that allows us to measure the direct operating cost and the portion of general and administrative cost it takes to produce each Mcfe. and This metric, similar to adjusted EBITDA margin, inclu

  67. Slide 67: Corporate

    Corporate 1600 Corporate Drive Birmingham, Alabama 35238-1087 (USA) div.energy div.energy Douglas Kris Senior Vice President Investor Relations & Corporate Communications dkris@dgoc.com dkris@dgoc.com +1 973 856 2757

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