Diversified Energy Company PLC reported record third‑quarter 2025 results, with revenue of $500 million, adjusted EBITDA of $286 million, and free cash flow of $144 million. Production averaged 1,127 MMcfepd, up 36% from the 829 MMcfepd reported in Q3 2024. In Q3 2024 the company posted revenue of $244 million, adjusted EBITDA of $115 million, free cash flow of $56 million, and production of 829 MMcfepd.
The adjusted EBITDA margin rose to 57% from 47% in Q3 2024, driven by higher production volumes and lower operating costs. Net debt to adjusted EBITDA remained at 2.4×.
Diversified Energy raised its full‑year guidance to adjusted EBITDA of $900–$925 million and free cash flow of $440 million, citing strong momentum from the integration of the Maverick Natural Resources acquisition and ongoing portfolio‑optimisation program. The acquisition, completed in March 2025 for $1.275 billion, added Permian Basin assets that increased the company’s density and commodity mix.
Portfolio‑optimisation proceeds of $74 million were realized in Q3 2025, and the company repurchased 5.1 million shares, spending approximately $61 million year‑to‑date. A record $146 million was returned to shareholders through dividends and share repurchases.
Management highlighted that the guidance increase reflects the capture of synergies from Maverick integration, continued asset divestitures, and the company’s transition to a New York‑listed, U.S.‑domesticated entity, which is expected to provide full SEC reporting benefits.
The interim dividend was set at 29 cents per share, and the company’s free cash flow position supports continued capital return and potential future investment.
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