Diversified Energy Company solid financial performance, highlighting resilience of strategy

Diversified Energy Company PLC (LON:DEC; NYSE:DEC) has announced it is trading in line with expectations and provides the following update on its business activity for the year ended December 31, 2023.

Delivering Reliable Results

•     2023 average net daily production: 821 MMcfepd (136.8 Mboepd)

◦     4Q 2023 average production of 777 MMcfepd (129.5 Mboepd)

◦     December 2023 exit rate production of 775 MMcfepd (129.2 Mboepd)

◦     Maintained peer-leading consolidated corporate production decline rate of ~10%(a)

◦     Marketed 100% of our produced natural gas with our internal marketing team, utilizing industry delivery, settlement, compliance, and confirmation standards while providing improved margins

•     Estimated Adjusted EBITDA(b) of $540 to $545 million

◦     Adjusted Operating Cost per Unit of $1.69/Mcfe ($10.14/Boe)(c) down 3% versus FY22

◦     Adjusted EBITDA Margin(d) of 51%

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