Diversified Energy Company reports solid first quarter, updates on Black Bear facility

Diversified Energy Company PLC (LON/NYSE: DEC) has announced it is trading in line with expectations and provides the following operations and trading update for the quarter ended March 31, 2024. In addition, the Company is providing an update on its Black Bear processing facility.

Year-Over-Year Absolute Debt Reduction and Expense Improvements

Black Bear Facility Strengthens the Company’s Midstream Value Chain and Integrates Complementary Long-life Infrastructure Assets

Delivering Reliable Results

•     Recorded average 1Q24 production of 723 MMcfepd (121 Mboepd)

◦     Exit rate of 742 MMcfepd (124 Mboepd)

◦     Production essentially flat from 4Q23 adj. production of 725 MMcfepd (121 Mboepd)(a)

•     Operating Cash Flow of $107 million, and Net loss of $15 million inclusive of non-cash unsettled derivative fair value adjustments, and non-cash depreciation, depletion and amortization

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    X
    LinkedIn
    Diversified Energy Company plc

    More articles like this

    Diversified Energy Company plc

    Natural Gas as a reliable energy source

    Natural gas is an essential energy resource that continues to power economies across the globe. Known for its abundance and reliability, it is primarily composed of methane and is extracted from deep beneath the earth’s surface.

    Diversified Energy Company plc

    Diversified Energy Company and the future of fracking in Pennsylvania

    Pennsylvanians involved in the fracking industry remain confident that their sector will persist, regardless of the outcome of the upcoming presidential election. Both major candidates—Republican Donald Trump and Democrat Kamala Harris—are promising support for the hydraulic

    Diversified Energy Company plc

    Natural Gas benefits for businesses

    Natural gas offers numerous advantages for businesses, including reliability, flexibility, and a substantial reduction in carbon emissions compared to other non-renewable energy sources. As a clean-burning option, it helps meet the rising energy demands while simultaneously

    Diversified Energy Company plc

    Driving the future of sustainable energy solutions

    The global energy sector is undergoing a significant transformation, driven by innovation, sustainability initiatives, and the increasing demand for reliable energy sources. As the world looks to transition towards greener solutions, traditional energy companies are evolving

    Diversified Energy Company plc

    Diversified Energy Company completes Crescent Pass acquisition

    Diversified Energy Company PLC (LON/NYSE: DEC) has announced the closing of its acquisition of the of high-working interest, operated natural gas properties and related facilities located within eastern Texas (the “Assets”) from Crescent Pass Energy). Acquisition Highlights