Diversified Energy Company have declared a 2Q24 interim dividend of $0.29 per share
Other financial highlights include:
• Average net daily production: 746 MMcfepd (124 Mboepd);
◦ Reflects effectively flat production volumes since 4Q2023, on a normalized basis
◦ June 2024 exit rate of 855 MMcfepd (143 Mboepd), including the impact of the Oaktree Acquisition
• Net Income of $16 million, inclusive of approximately $98 million in tax benefits
• 1H24 Adjusted EBITDA of $218 million
◦ 1H24 Adjusted EBITDA Margin of 50%
◦ 1H24 Adjusted Cost per Unit of $1.68/Mcfe ($10.08/Boe)
• Free Cash Flow of $121 million, excluding the impact of working capital
◦ Annualized Free Cash Flow Yield (excl. working capital) of 38%
• Leverage ratio of ~2.8x, excluding Oaktree transaction, leverage ratio of 2.6x
• Undrawn credit facility capacity and unrestricted cash of ~$120 million
