Diversified Energy Reports First Quarter 2026 Results
Diversified Energy Company ("Diversified", "DEC", or the "Company") (NYSE: DEC, LSE: DEC) is pleased to announce its financial and operational results for the three months ended March 31, 2026. First Quarter and Recent Highlights Camino Natural Resources Acquisition: Innovative Carlyle acquisition financing structure utilized for joint acquisition of $1.175B Oklahoma asset, further expanding the Company's leading Oklahoma operations Closing of Sheridan Acquisition: Acquisition closed on April 30th, adding ~62 MMcfepd of production and ~$52M of NTM EBITDA contiguous to our portfolio of assets in East Texas Shareholder Returns: Returned $94M to shareholders in 1Q26, including $72M in share repurchases in conjunction with the full exit of EIG, the former primary owner of Maverick Natural Resources Portfolio Optimization: Recorded over $100M in proceeds from optimization activities in 1Q26, further extending the Company's ability to generate material free cash flow from its extensive portfolio of assets Expanded Non-Op Portfolio: Expanded to three non-op partnerships with leading operators, including Mewbourne (Anadarko Basin) and Continental Resources (Permian Basin), positioning the Company to increase future production and reserves from highly profitable new wells First Quarter 2026 Results Average production: 1,198 MMcfepd (200 Mboepd) Production exit rate (a) : 1,228 MMcfepd (205 Mboepd) Total Commodity Revenue: $556M Net Loss: $161M, inclusive of $398M loss on non-cash unsettled derivatives Adjusted EBITDA (b) : $287M Operating Cash Flow: $169M Adjusted Free Cash Flow (c) : $160M after $11M of transaction costs Capital Expenditures: $58M Rusty Hutson, Jr., CEO of Diversified, commented: “We are off to a terrific start in our 25 th year of business.