Diversified Energy Co PLC - Alabama, US-based gas and oil production company - Says average production for 2022 amounts to 135,000 barrels of oil equivalent per day, up 14% from 119,000 a year ago. Maintains a cash margin of 50%, reflecting its "investment in Central Region assets," Diversified says. Total cash expenses amount to USD10.41 per barrel of oil equivalent, up 31% from USD7.95 per boe.
Chief Executive Officer Rusty Hutson says: "Once again, the team delivered another exceptional year for our stakeholders. In a year marked by volatility underpinned by significant geopolitical activities, we once again delivered on our strategic goals of generating strong cash flows, reducing emissions, and providing tangible value to our stakeholders."
It said in August that its half-year revenue ended June 30 surged to USD933.5 million from USD323.3 million a year prior. Its net loss widened to USD935.3 million from USD94.0 million.
Current stock price: 110.80 pence each, up 0.7% on Tuesday morning in London
12-month change: up 4.3%
By Xindi Wei, Alliance News reporter
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Diversified Energy (DEC)