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Diversified Energy hedges hit profits

Protection from massive price falls helped the Appalachian producer in 2020 but knocked $121mn off last year's revenue, although this still topped $1bn for the first time
March 22, 2022
  • Sales double on 2020 because of soaring gas prices 
  • Company commits to plugging more wells after environmental scrutiny

As expected for a low-cost gas producer, Diversified Energy (DEC) had a much-improved year in 2021. The company holds tens of thousands of mature gas and oil wells in the United States, across the Appalachian basin, and had production of 119,000 barrels of oil equivalent per day (boepd), driven up 19 per cent by continual acquisitions. 

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