Diversified Energy Company PLC (LON:DEC) has announced it is trading in line with expectations and provides the following operations and trading update for the quarter ended 30 September 2023.
Delivering Reliable Results
• .Average net daily production: 804 MMcfepd (134.0 Mboepd)
◦ Average net daily production of 814 MMcfepd (135.7 Mboepd), adjusted for extraordinary maintenance
◦ September 2023 exit rate of 806 MMcfepd (134.4 Mboepd)
◦ Maintained industry-leading consolidated corporate decline rate of ~10%
• Recorded Adjusted EBITDA(a) of $140 million
◦ Adjusted Operating Cost per Unit of $1.63/Mcfe ($9.81/Boe)(b) down 2% versus 1H23
◦ Adjusted EBITDA Margin(c) of 52%
• Annualized Free Cash Flow Yield of 22%(d), including the impact of working capital changes