The following is a summary of the Diversified Energy Company PLC (DEC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Diversified Energy reported strong financial performance in Q3 2024, highlighted by cash flow generation and capital returns.

• The company achieved a debt principal reduction totaling approximately $155 million year-to-date and returned approximately $105 million to shareholders in dividends and share repurchases.

• Free cash flow for the quarter was $47 million, with net debt standing at approximately $1.6 billion. Adjusted EBITDA was $115 million.

Business Progress:

• Diversified Energy has successfully executed a strategy of acquiring and optimizing US energy assets, focusing on low-decline production and high capital efficiency.

• Growth has been supported by strategic acquisitions totaling approximately $585 million, expanding production by over 15%.

• They announced expansion into coal mine methane capture and sale of environmental credits, contributing to bottom line.

Opportunities:

• The company positioned itself strategically with over 50% of production now in central regions to benefit from LNG demand.

• Announced a multiyear contract with a Gulf Coast LNG exporter, reflecting the reliability of their production base.

Risks:

• The volatile natural gas market poses challenges, although mitigated by the company's effective hedging strategy and operational adjustments.

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