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Diversified Energy Co PLC on Monday said it swung to a loss in 2024 while revenue fell, but it forecast increased production and earnings for 2025. The Birmingham, Alabama-based natural gas producer said it swung to a pretax loss of $224.0 million in 2024 from a $1.00 billion profit in 2023. Revenue fell 8.5% to $794.8 million from $868.3 million. The firm swung to a loss due to a $37.6 million loss on derivative financial instruments, compared to a $1.08 billion gain in 2023. Gross profit fell 46% to $109.5 million from $203.2 million. Average daily production fell 3.7% to 791 million cubic feet equivalent per day in 2024 from 821 million cfe per day in 2023. Diversified Energy declared a final quarterly dividend of 29 US cents per share, bringing the total dividend for 2024 to $1.16, unchanged from 2023. Following the completion of the purchase of Maverick Natural Resources LLC for a total of $1.28 billion, the firm expects to ‘realise significant operational synergies associated with a larger, consolidated position in Oklahoma’. It expects total production to increase to between 1.05 billion cubic feet equivalent per day and 1.10 billion cfe per day, compared to 791 million cfe per day in 2024. Diversified Energy expects adjusted earnings before interest, tax, depreciation and amortisation to rise to between $825 million and $875 million from $472 million in 2024. Chief Executive Officer Rusty Hutson said: ‘We have built a company that remains highly focused on long-term value creation through the growth of our platform and our ability to leverage vertical integration and scale to operate a structurally and dependably higher-margin business that delivers de-risked, consistent cash flow. ‘We are starting the year in a position of strength as a bigger, better business, and there has never been a more exciting time for our company and the energy industry.’ Shares in Diversified Energy were up 3.0% to 944.01 pence in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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