Strong Financial Performance
Adjusted EBITDA for the third quarter reached a record $286 million with an EBITDA margin of 66%. Year-over-year growth in EBITDA and cash flow nearly doubled.
Significant Debt Reduction
In the first three quarters of 2025, debt principal was reduced by approximately $203 million. The overall leverage improved by 20% since year-end 2024, achieving a leverage ratio within the target level of 2x to 2.5x net debt to EBITDA.
Successful Acquisition Strategy
The acquisitions of Maverick Natural Resources and Canvas Energy significantly transformed and strengthened the company, contributing to increased financial guidance and operational leverage.
Record Shareholder Returns
Approximately $146 million returned to shareholders through dividends and strategic share repurchases, representing about 15% of current market capitalization.
Increased Market Presence
Moving primary equity listing to the New York Stock Exchange and redomiciling to a U.S. corporate entity to enhance trading liquidity and increase exposure to U.S. investors.
Innovative Well Retirement Fund
Launched a first-of-its-kind agreement with West Virginia to provide financial assurance for the retirement of all Diversified wells in the state, potentially setting a blueprint for other states.