Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Diversified Energy Company Achieves Strong Results, with Robust Production and Financial Performance By: TheNewswire.com May 13, 2024 at 10:28 AM EDT Diversified Energy Company CEO Rusty Hutson Jr. joined Steve Darling from Proactive to announce that the company is on track with its expectations and is witnessing tangible outcomes. In the first quarter of 2024, the company recorded an average production of 723 MMcfepd, with an exit rate of 742 MMcfepd. Additionally, Diversified Energy achieved 1Q24 Adjusted EBITDA of $102 million and Free Cash Flow of $74 million.Notably, the company realized a 48% Adjusted EBITDA Margin and a TTM Free Cash Flow Yield of 31%. The prudent hedging program also yielded $22 million in gains on settled derivatives, contributing to a 28% uplift to Adjusted EBITDA.Hutson expressed satisfaction with the solid operational and financial results, attributing them to the company's strategic focus on cost reduction opportunities. This focus translated into a notable 7% sequential quarterly operating cost improvement. Moreover, he announced the commencement of operations at the Black Bear processing facility, marking a strategic milestone for the company.This achievement underscores Diversified Energy's ability to leverage its in-house expertise to unlock value and generate meaningful cash flow. The Black Bear facility, integrated with the company's natural gas production, is expected to contribute approximately $9 million in additional margin creation annually. Furthermore, it offers potential upside through the processing of third-party gas and accretive bolt-on acquisitions in the Cotton Valley and Haynesville region.Contact DetailsProactive North America+1 604-688-8158NA-editorial@proactiveinvestors.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Diversified Energy Company Achieves Strong Results, with Robust Production and Financial Performance By: TheNewswire.com May 13, 2024 at 10:28 AM EDT Diversified Energy Company CEO Rusty Hutson Jr. joined Steve Darling from Proactive to announce that the company is on track with its expectations and is witnessing tangible outcomes. In the first quarter of 2024, the company recorded an average production of 723 MMcfepd, with an exit rate of 742 MMcfepd. Additionally, Diversified Energy achieved 1Q24 Adjusted EBITDA of $102 million and Free Cash Flow of $74 million.Notably, the company realized a 48% Adjusted EBITDA Margin and a TTM Free Cash Flow Yield of 31%. The prudent hedging program also yielded $22 million in gains on settled derivatives, contributing to a 28% uplift to Adjusted EBITDA.Hutson expressed satisfaction with the solid operational and financial results, attributing them to the company's strategic focus on cost reduction opportunities. This focus translated into a notable 7% sequential quarterly operating cost improvement. Moreover, he announced the commencement of operations at the Black Bear processing facility, marking a strategic milestone for the company.This achievement underscores Diversified Energy's ability to leverage its in-house expertise to unlock value and generate meaningful cash flow. The Black Bear facility, integrated with the company's natural gas production, is expected to contribute approximately $9 million in additional margin creation annually. Furthermore, it offers potential upside through the processing of third-party gas and accretive bolt-on acquisitions in the Cotton Valley and Haynesville region.Contact DetailsProactive North America+1 604-688-8158NA-editorial@proactiveinvestors.com
Diversified Energy Company CEO Rusty Hutson Jr. joined Steve Darling from Proactive to announce that the company is on track with its expectations and is witnessing tangible outcomes. In the first quarter of 2024, the company recorded an average production of 723 MMcfepd, with an exit rate of 742 MMcfepd. Additionally, Diversified Energy achieved 1Q24 Adjusted EBITDA of $102 million and Free Cash Flow of $74 million.Notably, the company realized a 48% Adjusted EBITDA Margin and a TTM Free Cash Flow Yield of 31%. The prudent hedging program also yielded $22 million in gains on settled derivatives, contributing to a 28% uplift to Adjusted EBITDA.Hutson expressed satisfaction with the solid operational and financial results, attributing them to the company's strategic focus on cost reduction opportunities. This focus translated into a notable 7% sequential quarterly operating cost improvement. Moreover, he announced the commencement of operations at the Black Bear processing facility, marking a strategic milestone for the company.This achievement underscores Diversified Energy's ability to leverage its in-house expertise to unlock value and generate meaningful cash flow. The Black Bear facility, integrated with the company's natural gas production, is expected to contribute approximately $9 million in additional margin creation annually. Furthermore, it offers potential upside through the processing of third-party gas and accretive bolt-on acquisitions in the Cotton Valley and Haynesville region.Contact DetailsProactive North America+1 604-688-8158NA-editorial@proactiveinvestors.com
