Diversified Energy reports Q3 average net daily production 804 MMcfepd

Commenting on the results, CEO Rusty Hutson, Jr. said: “We have once again delivered consistent and reliable results during the third quarter despite continued commodity price headwinds. Our solid operational execution against the high-quality assets we manage, the ongoing integration of our most recent acquisitions of Tanos II and ConocoPhillips, and our focus on efficiency delivered sequential cost improvement, which translated into 52% Adjusted EBITDA margins. The asset performance and stability of cash flows were further corroborated by Fitch’s recent affirmation of its ABS notes rating. The combination of peer-leading, low capital intensity, and low corporate declines creates a distinct competitive advantage for our Company, mitigating the need to replace production while maintaining free cash flow generation from an asset base that provides consistent production. Implementing our smarter asset management programs enhances the discretionary cash flow we generate and increases the availability of capital for reinvestment, debt repayment, and return of capital to shareholders, ultimately creating long-term value. I am also incredibly proud of the ongoing focus on sustainability, with our achievements being rewarded by a distinguished panel of European judges bestowing our 2022 report, “Decarbonizing While Delivering,” with the ESG Report of the Year, recognizing it as the most accurate, best structured and informative report. Our commitment to providing long-term total returns to shareholders is underscored by our consistent dividend history, declaring our 25th consecutive dividend, returning over $800 million of capital to shareholders, including share repurchases, since going public in 2017. The management team and Board remain focused on executing value-enhancing initiatives to drive additional returns for our shareholders.”