Diversified Energy Company PLC (LON:DEC; NYSE:DEC) has announced the execution of a supply agreement with a major Gulf Coast LNG facility to provide natural gas to export. Under the terms of the agreement, Diversified will provide approximately 40 Bcf of natural gas under a fixed pricing construct indexed to Gulf Coast pricing for a period of three years, beginning in November 2024.
Fueled by a vision to supply clean American energy to the world, this significant contract collaboration encompasses the commitment to ensure energy security for global trading partners who are facing supply disruptions, geopolitical tensions, rising regional demands, and changing consumption patterns.
Additionally, the Company has been able to strategically take advantage of the recent strength of the natural gas price curve to add to its multiple-year hedge portfolio in 2025 through 2027, with an average NYMEX hedge price of approximately $3.45 per MMBtu. The Company will provide additional disclosures and an updated hedging schedule with its Third Quarter 2024 Trading Statement.
