Diversified Energy Reports Q3 2026 Results and Outlines Birch Acquisition Impact
Diversified Energy (DEC) reported strong third-quarter 2026 financial results, highlighted by an adjusted EBITDA of $256 million on total commodity revenue of $470 million. The company maintained a robust production profile averaging 1,189 million cubic feet equivalent per day, primarily driven by natural gas. Management emphasized disciplined capital allocation, having returned $157 million to shareholders through dividends and share repurchases while repaying $313 million in debt year-to-date. The company's strategic outlook is heavily focused on the Birch Resources acquisition, which is expected to significantly scale operations. Pro forma estimates suggest the acquisition could nearly double current free cash flow to $900 million and boost EBITDA to $1.5 billion. Operational efficiencies, including infrastructure synergies and cost reductions in chemical and support services, continue to bolster the company's margin profile as it integrates new assets.