Diversified Energy Company LSE:DEC
- Incorporated
- United States
- Chief executive
- Robert Russell "Rusty" Hutson, Jr.
- Reports in
- USD
Read straight from the annual reports
1,012c at close on 2 Oct 2026 · 11 reported years, 2015–2025
| Line | FY201512/15 | FY201612/16 | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | vs 17.1 | vs 1,949 | vs 757.3 | |||||||||
| Gross profit | vs 1.7 | later 13.3 | — | |||||||||
| Operating profit | later 41.2 | vs 1,109 | vs (97.1) | |||||||||
| Exceptional items | — | — | vs 16.8 | — | — | — | ||||||
| Net finance cost | vs 130.9 | vs 136.8 | ||||||||||
| Profit before tax | later 29.7 | vs 989.6 | vs (247.9) | |||||||||
| Tax charge | later 2.3 | vs 239.2 | vs (144.8) | |||||||||
| Profit for the year | later 27.5 | vs 748.7 | vs (104.4) | |||||||||
| EBITDA | ||||||||||||
| Basic EPS | vs (1,482.0c) | |||||||||||
| Diluted EPS | vs (1,482.0c) | |||||||||||
| Adjusted EPS | — | — | — | — | — | — | — | — | ||||
| Dividend per share | — | — | — | — |
USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Natural gas commodity sales
Natural gas revenue of $830,247k in 2025 (2024: $464,600k; 2023: $557,167k), driven by higher realized prices (Henry Hub avg $3.43/MMBtu, +51%) and 21% volume growth from acquisitions
page 58Oil and NGL commodity sales post-acquisition liquids growth
Oil production rose 406% and NGL production 48% year-on-year largely due to Maverick and Canvas acquisitions; liquids share of production rose to 25% in 2025 from 16% in 2024
page 41Lease operating expense per Mcfe +44% from acquisitions and higher liquids mix
LOE $457,593k (2025) vs $231,651k (2024), $1.15/Mcfe vs $0.80/Mcfe, driven by Maverick/Canvas liquids exposure
page 40DD&A rate increase from enlarged depreciable base
DD&A $412,506k (2025) vs $291,995k (2024); rate increase tied to Summit, Maverick and Canvas acquisitions
page 41$27.0m charge: Loss on debt extinguishment (early retirement of ABS I & II Notes / Term Loan I using ABS X Notes proceeds)
page 46We believe that the U.S. market is the natural long term primary listing venue for the Company and that moving to a U.S. primary listing is in the best interests of the business and its stakeholders
page 33On February 25, 2026 the Board approved the '2026 Repurchase Program' authorizing repurchase of up to 7,800,000 shares (~10% of issued shares), replacing the 2025 Repurchase Program, through March 1, 2027
page 36Board has a recent history of paying regular quarterly dividends of $0.29 per share; future dividends not guaranteed and subject to Board discretion and Credit Facility/debt covenant restrictions; dividends waived on shares held in the Employee Benefit Trust (EBT)
page 36Unqualified (unmodified) opinion from PricewaterhouseCoopers LLP (Birmingham, Alabama; PCAOB ID 238; auditor since 2020) on both the financial statements and internal control over financial reporting as of Dec 31, 2025. Sole Critical Audit Matter: estimation of proved developed natural gas, oil and NGL reserves and its impact on DD&A ($4.5bn net natural gas/oil properties; $339.2 million DD&A expense). Canvas Energy Inc. (acquired in 2025, ~9% of total assets and ~1% of revenue) was excluded from management's and the auditor's assessment of internal control over financial reporting
page 56- Reserve estimate uncertainty; actual production, revenues and expenditures may vary materially from estimates, and PV-10 is not the same as current market valuep.21
- Weather-event and GHG/climate regulatory risk, including evolving disclosure mandates and potential peak-demand scenarios for gas/oilp.22
- Reliance on third-party gathering/transportation infrastructure not controlled by the Company and exposure to tariff charges (e.g., ~28% of 2025 NGL volumes processed at a single third-party Kentucky facility)p.23
- Dependence on CEO and founder Robert Russell Hutson, Jr. and other key management/technical personnelp.24
Read from C000381-AR-2025-nsm.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: FCA NSM (3), Company website (7)
FY2026Next report expected 27 Mar 2027