Diversified Energy 3Q Production Up 36%, Net Income $166M

Diversified Energy, which owns significant assets in the Marcellus/Utica region (and other regions, too), issued its third quarter update earlier this month. The company owns approximately 8 million acres of leases with close to 70,000 oil and gas wells, mostly conventional wells (by number of wells). However, the company now produces 41% of its production from shale wells, meaning the blend of assets has changed over time. The company’s business model is to buy already-drilled, lower-producing wells on the cheap and find ways to make them more productive. They do a great job at it. Diversified also owns midstream (pipeline) assets, as well as a well-plugging subsidiary, Next LVL. What does the 3Q25 update show? The company produced 1,127 MMcfe/d (74% natural gas, 13% NGLs, and 13% oil). That’s up a huge 36% increase over 3Q24!

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