Overview
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- TickerDEC on NYSE2
- IndustryCrude Petroleum & Natural Gas2
- HeadquartersBirmingham, United States2
- Incorporated inDE3
- Business address1600 Corporate Drive, Birmingham, Al 352423
- Filer categoryLarge accelerated filer3
- Legal formCorporation2
- LEI529900XTQ3OKXR6P0H742
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 103598772
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During our semi-annual redetermination in October 2025 , the borrowing base was reduced to $825 million ;5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
29.2%Operating margin6
18.6%Net margin6
141.5%Revenue growth, 20256
34.7%Return on equity6
2.76×Debt to equity6
$280.0MFree cash flow6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Natural Gas brought in 52% of the revenue Diversified Energy Co broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Natural Gas | $557.2M | $464.6M | $830.2M |
| Oil and Condensate | $103.9M | $117.1M | $500.7M |
| Natural Gas and Natural Gas Liquids (NGL) | $141.3M | $150.5M | $207.9M |
| Natural Gas, Midstream | $30.6M | $32.5M | $40.5M |
| Product and Service, Other | $35.3M | $30.0M | $32.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs79¢$1.4B
- Income tax2¢$40.5M
- Profit19¢$341.1M
Out of $1.8B in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Capital spending40¢$184.6M
- Dividends paid18¢$85.0M
- Kept or used elsewhere42¢$195.0M
Out of $464.6M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gain (loss) on derivatives | $217.7M | -$37.6M | $1.1B |
| Revenues | $1.8B | $757.3M | $1.9B |
| Lease operating expense | -$457.6M | -$231.7M | -$213.1M |
| Production taxes | -$86.7M | -$36.0M | -$61.5M |
| Midstream operating expense | -$79.2M | -$72.1M | -$71.3M |
| Transportation expense | -$115.3M | -$90.5M | -$96.2M |
| Accretion of asset retirement obligation | -$48.6M | -$28.5M | -$23.9M |
| General and administrative expense | -$167.6M | -$129.7M | -$128.6M |
| Depreciation, depletion and amortization | -$412.5M | -$292.0M | -$273.3M |
| Gain (loss) on natural gas and oil properties and equipment | $73.4M | $26.1M | $28.1M |
| Total operating expense | -$1.3B | -$854.4M | -$839.8M |
| Income (loss) from operations | $535.0M | -$97.1M | $1.1B |
| Gain (loss) on sale of equity interest | $0 | $0 | $11.1M |
| Interest expense | -$210.0M | -$136.8M | -$130.9M |
| Loss on debt extinguishment | $27.0M | $16.4M | $0 |
| Other income (expense) | -$3.3M | -$2.3M | -$385.0K |
| Income (loss) before taxation | $301.3M | -$247.9M | $989.6M |
| Income tax benefit (expense) | $40.5M | $144.8M | -$239.2M |
| Net income (loss) | $341.9M | -$103.1M | $750.4M |
| Other comprehensive income (loss) | $352.0K | -$1.8M | -$270.0K |
| Total comprehensive income (loss) | $342.3M | -$104.9M | $750.1M |
| Net income (loss) | $341.1M | -$104.4M | $748.7M |
| Noncontrolling interest | $784.0K | $1.3M | $1.7M |
| Basic (in usd per share) | $4.67 | -$2.17 | $15.87 |
| Diluted (in usd per share) | $4.58 | -$2.17 | $15.76 |
| Basic (in shares) | 73.0M shares | 48.0M shares | 47.2M shares |
| Diluted (in shares) | 74.5M shares | 48.0M shares | 47.5M shares |
| Period ending | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 |
|---|---|---|---|---|
| Revenues | $666.5M | $499.8M | $600.3M | $62.5M |
| Income (loss) from operations | $250.9M | $180.9M | $291.4M | -$188.1M |
| Net income (loss) | $195.5M | $171.1M | $297.7M | -$323.2M |
| Basic (in usd per share) | $2.54 | $2.22 | $3.77 | -$5.52 |
| Diluted (in usd per share) | $2.48 | $2.14 | $3.67 | -$5.52 |
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $29.7M | $6.0M | $3.8M | ||
| Restricted cash | $21.8M | $11.4M | |||
| Accounts receivable, net | $408.4M | $234.4M | |||
| Derivatives | $153.2M | $33.8M | |||
| Prepaid expenses and other current assets | $37.2M | $18.7M | |||
| Total current assets | $650.2M | $304.3M | |||
| Proved natural gas and oil properties | $5.8B | $3.8B | |||
| Unproved natural gas and oil properties | $19.8M | $7.3M | |||
| Accumulated depletion | -$1.3B | -$981.7M | -$747.2M | -$530.4M | |
| Natural gas and oil properties, net | $4.5B | $2.8B | $2.4B | ||
| Property, plant, and equipment, net | $446.0M | $425.8M | $442.1M | ||
| Restricted cash | $93.7M | $34.8M | |||
| Deferred tax assets | $287.1M | $271.2M | |||
| Other assets | $184.2M | $87.5M | |||
| Total assets | $6.2B | $4.0B | |||
| Accounts payable | $81.8M | $35.0M | |||
| Accrued liabilities | $193.7M | $95.4M | |||
| Revenue to be distributed | $240.1M | $172.3M | |||
| Current portion of long-term debt, net | $236.6M | $209.5M | |||
| Derivatives | $156.0M | $163.7M | |||
| Other current liabilities | $167.5M | $101.3M | |||
| Total current liabilities | $1.1B | $777.1M | |||
| Asset retirement obligations | $863.8M | $619.2M | $463.4M | ||
| Long-term debt, net | $2.7B | $1.5B | |||
| Derivatives | $440.6M | $608.9M | |||
| Other liabilities | $78.4M | $44.2M | |||
| Total liabilities | $5.2B | $3.5B | |||
| Common stock ($0.01 par value; 350,000,000 shares authorized; 76,979,625 and 50,649,844 shares issued and outstanding) | $769.0K | $14.6M | |||
| Additional paid in capital | $1.5B | $1.1B | |||
| Accumulated other comprehensive income (loss) | -$583.0K | -$935.0K | |||
| Retained earnings (accumulated deficit) | -$507.8M | -$759.5M | |||
| Total stockholders' equity attributable to DEC | $984.1M | $400.1M | |||
| Noncontrolling interests | $10.9M | $11.9M | |||
| Total stockholders' equity | $995.0M | $412.0M | $537.7M | -$189.7M | |
| Total liabilities and stockholders' equity | $6.2B | $4.0B | |||
| Common stock, par value (in dollars per share) | $0.01 | $0.20 | $0.01 | ||
| Common stock, shares authorized (in shares) | 350.0M shares | 350.0M shares | |||
| Common stock, shares issued (in shares) | 77.0M shares | 50.6M shares | |||
| Common stock, shares outstanding (in shares) | 77.0M shares | 50.6M shares |
| Period ending | 2025-12-31 | 2025-11-30 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $29.7M | $6.0M | $3.8M | ||
| Restricted cash | $21.8M | $11.4M | |||
| Accounts receivable, net | $408.4M | $234.4M | |||
| Derivatives | $153.2M | $33.8M | |||
| Prepaid expenses and other current assets | $37.2M | $18.7M | |||
| Total current assets | $650.2M | $304.3M | |||
| Proved natural gas and oil properties | $5.8B | $3.8B | |||
| Unproved natural gas and oil properties | $19.8M | $7.3M | |||
| Accumulated depletion | -$1.3B | -$981.7M | -$747.2M | -$530.4M | |
| Natural gas and oil properties, net | $4.5B | $2.8B | $2.4B | ||
| Property, plant, and equipment, net | $446.0M | $425.8M | $442.1M | ||
| Restricted cash | $93.7M | $34.8M | |||
| Deferred tax assets | $287.1M | $271.2M | |||
| Other assets | $184.2M | $87.5M | |||
| Total assets | $6.2B | $4.0B | |||
| Accounts payable | $81.8M | $35.0M | |||
| Accrued liabilities | $193.7M | $95.4M | |||
| Revenue to be distributed | $240.1M | $172.3M | |||
| Current portion of long-term debt, net | $236.6M | $209.5M | |||
| Derivatives | $156.0M | $163.7M | |||
| Other current liabilities | $167.5M | $101.3M | |||
| Total current liabilities | $1.1B | $777.1M | |||
| Asset retirement obligations | $863.8M | $619.2M | $463.4M | ||
| Long-term debt, net | $2.7B | $1.5B | |||
| Derivatives | $440.6M | $608.9M | |||
| Other liabilities | $78.4M | $44.2M | |||
| Total liabilities | $5.2B | $3.5B | |||
| Common stock ($0.01 par value; 350,000,000 shares authorized; 76,979,625 and 50,649,844 shares issued and outstanding) | $769.0K | $14.6M | |||
| Additional paid in capital | $1.5B | $1.1B | |||
| Accumulated other comprehensive income (loss) | -$583.0K | -$935.0K | |||
| Retained earnings (accumulated deficit) | -$507.8M | -$759.5M | |||
| Total stockholders' equity attributable to DEC | $984.1M | $400.1M | |||
| Noncontrolling interests | $10.9M | $11.9M | |||
| Total stockholders' equity | $995.0M | $412.0M | $537.7M | -$189.7M | |
| Total liabilities and stockholders' equity | $6.2B | $4.0B | |||
| Common stock, par value (in dollars per share) | $0.01 | $0.20 | $0.01 | ||
| Common stock, shares authorized (in shares) | 350.0M shares | 350.0M shares | |||
| Common stock, shares issued (in shares) | 77.0M shares | 50.6M shares | |||
| Common stock, shares outstanding (in shares) | 77.0M shares | 50.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $341.9M | -$103.1M | $750.4M |
| Depreciation, depletion and amortization | $412.5M | $292.0M | $273.3M |
| Accretion of asset retirement obligations | $48.6M | $28.5M | $23.9M |
| Income tax (benefit) expense | -$40.5M | -$144.8M | $239.2M |
| (Gain) loss on derivatives | -$217.7M | $37.6M | -$1.1B |
| Cash proceeds (payments) on settlement of derivatives | $23.8M | $151.5M | $174.8M |
| Settlement of asset retirement costs | -$28.1M | -$8.4M | -$6.0M |
| Gain (loss) on natural gas and oil properties and equipment | -$73.4M | -$26.1M | -$28.1M |
| (Gain) loss on sale of equity interest | $0 | $0 | -$11.1M |
| Loss on early retirement of debt | $27.0M | $16.4M | $0 |
| Derivative modifications | $0 | $0 | $26.7M |
| Non-cash share-based compensation | $10.4M | $8.3M | $6.5M |
| Other | $15.7M | $15.5M | $16.0M |
| Accounts receivable, net | $2.6M | -$18.6M | $107.3M |
| Other assets | -$8.8M | -$7.8M | $4.5M |
| Accounts payable | -$17.0M | -$17.5M | -$38.3M |
| Other liabilities | -$32.5M | -$2.7M | -$167.1M |
| Net cash provided by operating activities | $464.6M | $220.7M | $291.4M |
| Consideration for business acquisitions, net of cash acquired | -$329.7M | $0 | $0 |
| Consideration for asset acquisitions, net of cash acquired | -$477.4M | -$282.3M | -$262.3M |
| Proceeds from divestitures | $171.6M | $68.7M | $92.5M |
| Capital expenditures | -$184.6M | -$52.1M | -$74.3M |
| Deferred consideration payments | $0 | -$1.1M | -$2.6M |
| Net cash (used in) investing activities | -$820.2M | -$266.8M | -$246.7M |
| Repayment of borrowings | -$2.4B | -$1.7B | -$1.5B |
| Proceeds from borrowings | $3.2B | $1.8B | $1.5B |
| Prepayment charge on early retirement of debt | $0 | -$1.8M | $0 |
| Debt issuance costs | -$35.2M | -$20.3M | -$13.8M |
| Hedge modifications associated with ABS Notes | -$171.1M | $0 | -$6.4M |
| Proceeds from equity issuance, net | $117.5M | $0 | $156.8M |
| Proceeds from lease modifications | $0 | $8.6M | $0 |
| Principal element of lease payments | -$15.8M | -$12.5M | -$10.3M |
| Dividends to stockholders | -$85.0M | -$83.9M | -$168.0M |
| Distributions to noncontrolling interest owners | -$1.7M | -$2.0M | -$4.0M |
| Repurchases of common stock (stock repurchase program) | -$76.8M | -$15.9M | -$11.0M |
| Repurchases of common stock by the EBT, net | -$22.7M | -$5.2M | $0 |
| Net cash provided by (used in) financing activities | $448.4M | $58.4M | -$67.4M |
| Net change in cash, cash equivalents and restricted cash | $92.9M | $12.3M | -$22.7M |
No quarter-by-quarter statement was filed.
Corporate structure
Diversified Energy Co sits at the top of its group. 92 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Diversified Energy Co
- Ameriprise Financial Filed SCHEDULE 13G/A on Diversified Energy Co, latest Aug 14, 2026 (2 filings since Nov 14, 2025)
- BlackRock Filed SCHEDULE 13G/A on Diversified Energy Co, latest Jul 28, 2026 (5 filings since Feb 6, 2024)
- Artemis Investment Management LLP Filed SCHEDULE 13G on Diversified Energy Co, latest May 7, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Diversified Energy Co, latest Mar 26, 2026 (4 filings since Jan 30, 2025)
- EIG Energy Fund XVI, L.P. Filed SCHEDULE 13D/A on Diversified Energy Co, latest Mar 13, 2026 (4 filings since May 29, 2025)
- FS Specialty Lending Fund Filed SCHEDULE 13G/A on Diversified Energy Co, latest May 29, 2025 (2 filings since May 15, 2025)
- JUPITER ASSET MANAGEMENT LTD Filed SCHEDULE 13G on Diversified Energy Co, latest Apr 2, 2025 (2 filings since Apr 29, 2024)
- M&G INVESTMENT MANAGEMENT LTD Filed SC 13G/A on Diversified Energy Co, latest Oct 3, 2024 (2 filings since Feb 13, 2024)
- Diversified Energy Co Birmingham, Alabama, United States
- Black Bear Liquids LLC Subsidiary · Texas, United States
- Black Bear Liquids Marketing LLC Subsidiary · Texas, United States
- Black Bear Midstream Holdings LLC Subsidiary · Delaware, United States
- Black Bear Midstream LLC Subsidiary · Texas, United States
- Bluebonnet Resources, LLC Subsidiary · Delaware, United States
- BlueStone Natural Resources II, LLC Subsidiary · Texas, United States
- Breitburn Oklahoma LLC Subsidiary · Delaware, United States
- Breitburn Operating LP Subsidiary · Delaware, United States
- Breitburn Transpetco GP LLC Subsidiary · Delaware, United States
- Breitburn Transpetco LP LLC Subsidiary · Delaware, United States
- Canvas CO2 LLC Subsidiary · Oklahoma, United States
- Canvas Real Estate LLC Subsidiary · Oklahoma, United States
- Charles Energy, L.L.C. Subsidiary · Pennsylvania, United States
- Chesapeake Granite Wash Trust Subsidiary · Delaware, United States
- Chestnut Energy, L.L.C. Subsidiary · Pennsylvania, United States
- Coalfield Pipeline Company Subsidiary · Tennessee, United States
- Corsair Asset Holdings LLC Subsidiary · Delaware, United States
- Corsair Energy II LLC Subsidiary · Pennsylvania, United States
- Corsair Resources II LLC Subsidiary · Pennsylvania, United States
- Cranberry Pipeline Corporation Subsidiary · Delaware, United States
- Diversifed ABS IX Holdings LLC Subsidiary · Delaware, United States
- Diversified ABS III Upstream LLC Subsidiary · Pennsylvania, United States
- Diversified ABS LLC Subsidiary · Pennsylvania, United States
- Diversified ABS Phase II LLC Subsidiary · Pennsylvania, United States
- Diversified ABS Phase IV Holdings LLC Subsidiary · Delaware, United States
- and 66 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Diversified Energy Co reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $701.9M6 Dec 31, 2025 | $640.9M6 Dec 31, 2024 | +9.5% |
| Accumulated depreciation | $255.8M6 Dec 31, 2025 | $215.2M6 Dec 31, 2024 | +18.9% |
| Property and equipment, net | $446.0M6 Dec 31, 2025 | $425.8M6 Dec 31, 2024 | +4.8% |
| Finance-lease assets | $64.0M6 Dec 31, 2025 | $32.8M6 Dec 31, 2024 | +94.8% |
| Operating-lease assets (leased space) | $3.8M6 Dec 31, 2025 | $3.2M6 Dec 31, 2024 | +17.7% |
| Oil and gas properties | $4.5B6 Dec 31, 2025 | $2.8B6 Dec 31, 2024 | +59.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $29.7M6 Dec 31, 2025 | $6.0M6 Dec 31, 2024 | +395.8% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $3.2M6 Dec 31, 2025 | $2.9M6 Dec 31, 2024 | +10.9% |
Inventory
Properties, in its own words
Information regarding our properties is included in Item 1. Business and in Supplemental Natural Gas & Oil Information in Part II.
Item 2 of the 10-K filed Feb 26, 2026.5
Leadership
Who has led Diversified Energy Co, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerRobert R. Hutson Jr. Dec 1, 2025 to now11
- PresidentBradley G. Gray Dec 1, 2025 to now12
- Chief financial officerBradley G. Gray Dec 1, 2025 to now12
- Chief operating officerRichard A. Gideon Dec 1, 2025 to now13
Board members and other officers (5)
- EVP - Energy MarketingRon Lee Ridgway Dec 11, 2025 to now14
- Board memberKirk R. Oliver May 26, 2026 to now15
- Board memberKathryn Z. Klaber Dec 1, 2025 to now16
- Board memberRandall S. Wade Dec 1, 2025 to now17
- Board memberRobert R. Hutson Jr. Dec 1, 2025 to now11
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Black Bear Liquids LLC Texas4
- Black Bear Liquids Marketing LLC Texas4
- Black Bear Midstream Holdings LLC Delaware4
- Black Bear Midstream LLC Texas4
- BlueStone Natural Resources II, LLC Texas4
- Bluebonnet Resources, LLC Delaware4
- Breitburn Oklahoma LLC Delaware4
- Breitburn Operating LP Delaware4
- Breitburn Transpetco GP LLC Delaware4
- Breitburn Transpetco LP LLC Delaware4
- Canvas CO2 LLC Oklahoma4
- Canvas Real Estate LLC Oklahoma4
- Charles Energy, L.L.C. Pennsylvania4
- Chesapeake Granite Wash Trust Delaware4
- Chestnut Energy, L.L.C. Pennsylvania4
- Coalfield Pipeline Company Tennessee4
- Corsair Asset Holdings LLC Delaware4
- Corsair Energy II LLC Pennsylvania4
- Corsair Resources II LLC Pennsylvania4
- Cranberry Pipeline Corporation Delaware4
- DM Bluebonnet LLC Texas4
- DM Mountaineer Holdings LLC Delaware4
- DM Pennsylvania Holdco LLC Pennsylvania4
- DM Yellowjacket HoldCo LLC Delaware4
All 91 listed subsidiaries
- DP American Pharoah LLC Pennsylvania4
- DP Bluegrass LLC Pennsylvania4
- DP Derby Run LLC Delaware4
- DP Keeneland Mile LLC Delaware4
- DP Legacy Central LLC Pennsylvania4
- DP Legacy Tapstone LLC Pennsylvania4
- DP Lion Equity Holdco LLC Delaware4
- DP Lion Holdco LLC Delaware4
- DP Mustang Holdco LLC Delaware4
- DP Ponies LLC Pennsylvania4
- DP RBL Co LLC Delaware4
- DP Seabiscuit LLC Pennsylvania4
- DP Secretariat LLC Pennsylvania4
- DP Sovereignty LLC Pennsylvania4
- DP Tapstone Energy Holdings, LLC Delaware4
- DP Yellowjacket HoldCo LLC Delaware4
- Diversifed ABS IX Holdings LLC Delaware4
- Diversified ABS III Upstream LLC Pennsylvania4
- Diversified ABS LLC Pennsylvania4
- Diversified ABS Phase II LLC Pennsylvania4
- Diversified ABS Phase IV Holdings LLC Delaware4
- Diversified ABS Phase IV LLC Delaware4
- Diversified ABS Phase VI Holdings LLC Delaware4
- Diversified ABS Phase VI LLC Delaware4
- Diversified ABS Phase X LLC Pennsylvania4
- Diversified ABS V Upstream LLC Pennsylvania4
- Diversified ABS VI Upstream LLC Pennsylvania4
- Diversified ABS VIII Holdings LLC Delaware4
- Diversified ABS VIII LLC Delaware4
- Diversified ABS X Holdings LLC Delaware4
- Diversified ABS X LLC Delaware4
- Diversified Energy Company Delaware4
- Diversified Energy Company LLC Delaware4
- Diversified Energy Group LLC Delaware4
- Diversified Energy Marketing, LLC Alabama4
- Diversified Gas & Oil Corporation Delaware4
- Diversified Midstream LLC Pennsylvania4
- EnergySolutions AI LLC Oklahoma4
- GTG Pipeline LLC Virginia4
- Giant Land, LLC Oklahoma4
- Link Land, LLC Oklahoma4
- MNR ABS Agent Corp Delaware4
- MNR ABS Holdings I, LLC Delaware4
- MNR ABS Issuer I, LLC Delaware4
- Maverick ABS Holdco, LLC Delaware4
- Maverick Asset Holdings LLC Delaware4
- Maverick Natural Resources II LLC Delaware4
- Maverick Natural Resources LLC Delaware4
- Maverick Operating GP LLC Delaware4
- Maverick Permian Agent Corp Delaware4
- Maverick Permian LLC Delaware4
- Maverick Services LLC Delaware4
- Midpoint Midstream, LLC Colorado4
- Next LVL Energy, LLC Pennsylvania4
- OCM Denali Holdings, LLC Delaware4
- Oaktree ABS VI Upstream LLC Delaware4
- Old Faithful Land LLC Oklahoma4
- Phoenix Production Company Wyoming4
- Ranger SubCo LLC Delaware4
- Riverside Land, LLC Oklahoma4
- Sooner State Joint ABS Holdings LLC Delaware4
- Splendid Land, LLC Oklahoma4
- Trabajo Energy, L.L.C. Pennsylvania4
- Transpetco Pipeline Company, LP Delaware4
- Unbridled Agent Corp Delaware4
- Unbridled Resources, LLC Delaware4
- Wheeler Midstream, LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Diversified Energy Co PLCJun 3, 2022 to Dec 1, 20253
Timeline
- Sep 18, 20268-K Financial statements and exhibits18
- Sep 9, 20268-K Entered a material agreement19
- Sep 3, 20268-K Regulation FD disclosure20
- Aug 14, 20268-K Regulation FD disclosure21
- Aug 10, 20268-K Executive or director change; Regulation FD disclosure22
- Aug 5, 20268-K Results of operations; Regulation FD disclosure23
- Jul 14, 20268-K Financial statements and exhibits24
- Jul 6, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation25
- May 21, 20268-K Executive or director change; Regulation FD disclosure26
- May 19, 20268-K Entered a material agreement; New debt or obligation27
- May 12, 20268-K Shareholder vote28
- May 12, 20268-K Entered a material agreement; Regulation FD disclosure29
- Dec 1, 2025New chief executive Robert R. Hutson Jr. becomes CEO11
- Oct 8, 2025Founded Diversified Energy Co is founded2
Calendar
Coming up
- Nov 4, 2026Reports results for the quarter ending Sep/202630
When it reported results
- Aug 5, 2026Reported quarterly or annual results23
- May 6, 2026Reported quarterly or annual results31
- Feb 26, 2026Reported quarterly or annual results32
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
243 filings to the SEC since October 2021: 3 annual reports, 2 quarterly reports, 26 major events, 72 insider forms, 22 large holders, 118 other. The latest 20:
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Oct 1, 20264 EDGAR
- Sep 28, 2026SD EDGAR
- Sep 18, 20268-K/A EDGAR
- Sep 9, 20268-K EDGAR
- Sep 3, 20268-K EDGAR
- Aug 14, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 20268-K EDGAR
- Aug 7, 20264 EDGAR
- Aug 5, 20268-K EDGAR
- Aug 5, 202610-Q EDGAR
The 243 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jan 9, 2026 | Wade Randall S.Director | Sale | 2,100,000 | $13.28 | $27.9M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ameriprise FinancialSCHEDULE 13G/A, 2 filings Nov 14, 2025 to Aug 14, 202633
- BlackRockSCHEDULE 13G/A, 5 filings Feb 6, 2024 to Jul 28, 202634
- Artemis Investment Management LLPSCHEDULE 13G, 1 filing May 7, 202635
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Jan 30, 2025 to Mar 26, 202636
- EIG Energy Fund XVI, L.P.SCHEDULE 13D/A, 4 filings May 29, 2025 to Mar 13, 202637
- FS Specialty Lending FundSCHEDULE 13G/A, 2 filings May 15, 2025 to May 29, 202538
- JUPITER ASSET MANAGEMENT LTDSCHEDULE 13G, 2 filings Apr 29, 2024 to Apr 2, 202539
- M&G INVESTMENT MANAGEMENT LTDSC 13G/A, 2 filings Feb 13, 2024 to Oct 3, 202440
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Richard GideonChief Operating Officer | $365.4K | $6.6M41 | |
| 2025 | Robert Russell Hutson, Jr.Chief Executive Officer | $806.9K | $5.0M41 | |
| 2025 | Bradley GrayPresident & Chief Financial Officer | $519.2K | $2.7M41 | |
| 2025 | Benjamin SullivanSenior EVP, Chief Legal and Risk Officer & Corporate Secretary | $469.2K | $2.3M41 | |
| 2025 | Ronald RidgwayEVP of Energy Marketing | $362.0K | $1.3M41 | |
| 2024 | Robert Russell Hutson, Jr.Chief Executive Officer | $778.8K | $4.6M41 | |
| 2024 | Bradley GrayPresident & Chief Financial Officer | $498.3K | $2.6M41 | |
| 2024 | Benjamin SullivanSenior EVP, Chief Legal and Risk Officer & Corporate Secretary | $450.0K | $2.3M41 | |
| 2024 | Ronald RidgwayEVP of Energy Marketing | $340.7K | $1.2M41 | |
| 2023 | Robert Russell Hutson, Jr.Chief Executive Officer | $748.9K | $4.2M41 | |
| 2023 | Bradley GrayPresident & Chief Financial Officer | $454.3K | $2.3M41 | |
| 2023 | Benjamin SullivanSenior EVP, Chief Legal and Risk Officer & Corporate Secretary | $429.5K | $1.9M41 | |
| 2023 | Ronald RidgwayEVP of Energy Marketing | $304.5K | $885.8K41 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 5,774,418 | $80.0M | 0.0% | +852,555 |
| Artemis Investment Management LLP | 5,677,235 | $78.5M | 0.7% | +232,357 |
| Ameriprise Financial Inc | 4,570,807 | $63.3M | 0.0% | +50,535 |
| State Street Corp | 3,133,776 | $43.4M | 0.0% | +1,892,420 |
| Jupiter Asset Management Ltd | 3,129,540 | $42.9M | 0.2% | −39,019 |
| Tejara Capital Ltd | 1,828,668 | $25.3M | 10.4% | +158,837 |
| M&g PLC | 1,759,706 | $24.6M | 0.1% | No change |
| Geode Capital Management, LLC | 1,699,673 | $23.6M | 0.0% | +219,467 |
| Man Group plc | 1,677,344 | $23.0M | 0.0% | −360,865 |
| Citadel Advisors LLC | 1,388,337 | $19.2M | 0.0% | −142,698 |
| Millstreet Capital Management LLC | 1,378,421 | $19.1M | 5.2% | No change |
| American Century Companies Inc | 1,228,790 | $16.9M | 0.0% | +509 |
| Barclays PLC | 1,192,263 | $16.5M | 0.0% | −641,218 |
| UBS Group AG | 1,179,531 | $16.3M | 0.0% | +841,399 |
| Charles Schwab Investment Management Inc | 817,197 | $11.3M | 0.0% | +62,629 |
| Vanguard Capital Management LLC | 664,462 | $9.2M | 0.0% | −120,846 |
| Bank of New York Mellon Corp | 654,942 | $9.1M | 0.0% | +37,214 |
| Vanguard Portfolio Management LLC | 607,218 | $8.4M | 0.0% | +243,159 |
| Morgan Stanley | 586,766 | $8.1M | 0.0% | −296,699 |
| First Trust Advisors LP | 577,408 | $8.0M | 0.0% | −27,284 |
| Northern Trust Corp | 566,257 | $7.8M | 0.0% | +86,082 |
| Aqr Capital Management LLC | 453,500 | $6.3M | 0.0% | +284,646 |
| Aberdeen Group plc | 404,163 | $5.6M | 0.0% | −409,898 |
| Prescott Group Capital Management, L.L.C. | 382,058 | $5.3M | 0.5% | +80,000 |
| Wells Fargo & Company/mn | 365,182 | $5.1M | 0.0% | +297,004 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Diversified Energy Co is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARDiversified Energy Co1
- CIK0001922446
- Employer ID (EIN)42-22836065
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)1311 Crude Petroleum & Natural Gas1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address1600 Corporate Drive, Birmingham, AL 352421
- Phone(205) 408-09091
- Shares outstanding70,769,563 as of Aug 5, 202610
- Public float$814.0M as of Jun 30, 20255
- AuditorPricewaterhouseCoopers LLP, Birmingham, Alabama PCAOB ID 238; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJun 3, 20221
- Filings243 in all: 4 (59), 6-K (45), 8-K (22), 3 (12), UPLOAD (12), 144 (10), DRS/A (6), SCHEDULE 13G (6)1
All 45 form types
SCHEDULE 13G/A (6), CORRESP (5), DRSLTR (5), 424B7 (4), SC 13G (4), 8-K/A (3), S-8 (3), SCHEDULE 13D/A (3), 10-Q (2), 20-F (2), 424B5 (2), F-3ASR (2), POSASR (2), S-8 POS (2), SC 13G/A (2), SD (2), SEC STAFF LETTER (2), 10-K (1), 15-12G (1), 20FR12B (1), 20FR12B/A (1), 25-NSE (1), 3/A (1), 424B3 (1), 8-K12B (1), ARS (1), CERT (1), DEF 14A (1), DEFA14A (1), DRS (1), EFFECT (1), F-1 (1), S-3ASR (1), SC TO-I (1), SC TO-I/A (1), SCHEDULE 13D (1), SEC STAFF ACTION (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Aug 5, 2026
Proxy statement (DEF 14A) Mar 24, 2026
Latest 8-K (8-K) Sep 9, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | DEC | New York Stock Exchange |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Diversified Energy Co names in Item 1A of its 10-K filed Feb 26, 2026: 58 risks under these headings, as written.5
- Risks Related to Our Business, Operations and Industry
- Volatility and future changes in natural gas, NGLs and oil prices could materially and adversely affect our business, results of
- We conduct our business in a highly competitive industry.
- We may experience delays in production, transportation and marketing.
- We face production risks and hazards that may affect our ability to produce natural gas, NGLs and oil at expected levels,
- quality and costs that may result in additional liabilities to us.
- The levels of our natural gas and oil reserves and resources, their quality and production volumes may be lower than
- estimated or expected.
- The PV-10 of our reserves will not necessarily be the same as the current market value of our estimated natural gas, NGL and
- oil reserves.
- We may face unanticipated increased or incremental costs in connection with decommissioning obligations such as plugging.
- We may not be able to keep pace with technological developments in our industry or be able to implement them effectively.
The other 47 risks
- Our operations are subject to a series of risks relating to weather events.
- We rely on third-party infrastructure that we do not control and/or, in each case, are subject to tariff charges that we do not
- Failure by us, our contractors or our primary offtakers to obtain access to necessary equipment and transportation systems
- could materially and adversely affect our business, results of operations, financial condition, cash flows or prospects.
- A proportion of our equipment has substantial prior use and significant expenditure may be required to maintain operability
- and operations integrity.
- We depend on our directors, key members of management, independent experts, and technical and operational service
- providers and on our ability to retain and hire such persons to effectively manage our growing business.
- We may face unanticipated water and other waste disposal costs.
- We may incur significant costs and liabilities resulting from performance of pipeline integrity programs and related repairs.
- Risks Relating to Our Financing, Acquisitions, Investment and Indebtedness
- Inflation may adversely affect us by increasing costs beyond what we can recover through price increases and limit our ability
- to enter into future debt financing.
- There are risks inherent in our acquisitions of natural gas and oil assets.
- We may be unable to make attractive acquisitions or successfully integrate acquired businesses, and any inability to do so may
- disrupt our business and hinder our ability to grow.
- The Company’s success will be impacted by its ability to fully integrate Canvas and deliver the value of the combined
- underlying businesses; the full financial benefits expected from the Company may not be fully achieved.
- We may not have good title to all our assets and licenses.
- Restrictions in our existing and future debt agreements could limit our growth and our ability to engage in certain activities.
- Any significant reduction in our borrowing base under our Credit Facility as a result of periodic borrowing base
- redeterminations or otherwise may negatively impact our ability to fund our operations.
- The securitizations of our limited purpose, bankruptcy-remote, wholly owned subsidiaries may expose us to financing and
- other risks, and there can be no assurance that we will be able to access the securitization market in the future, which may
- require us to seek more costly financing.
- An increase in interest rates would increase the cost of servicing our indebtedness and could reduce our profitability, decrease
- our liquidity and impact our solvency.
- Our hedging activities could result in financial losses or could reduce our net income.
- The failure of our hedge counterparties to meet their obligations to us may adversely affect our financial results.
- We may not be able to enter into commodity derivatives on favorable terms or at all.
- Risks Relating to Legal, Tax, Environmental and Regulatory Matters
- We are subject to regulation and liability under environmental, health and safety regulations, the violation of which may affect
- our financial condition and operations.
- Heightened attention to sustainability matters may impact our business and financial results.
- The U.S. administration, acting through the executive branch and/or in coordination with Congress, could enact or rescind
- rules and regulations that may impact our operations.
- Our operations are dependent on our compliance with obligations under permits, licenses, contracts and field development
- We do not insure against certain risks and our insurance coverage may not be adequate for covering losses arising from
- potential operational hazards and unforeseen interruptions.
- Our internal systems and website may be subject to intentional and unintentional disruption, and our confidential information
- may be misappropriated, stolen or misused, which could adversely impact our reputation and future sales.
- Our operations are subject to the risk of litigation.
- We are subject to certain tax risks.
- Risks Relating to Our Common Stock
- The expected benefits of the U.S. Domestication may not be realized.
- We expect to incur additional costs related to the U.S. Domestication, including non-recurring costs as well as recurring costs a
- result of financial reporting obligations of being a “domestic issuer” as opposed to a “foreign private issuer” in the United
- The requirements of being a public company, including additional rules and regulations that we must comply with now that
- we are no longer a foreign private issuer, may strain our resources, divert management’s attention, and affect our ability to
- attract and retain executive officers and qualified board members.
Legal proceedings
We are a party to various routine legal proceedings, disputes and claims arising in the ordinary course of our business, including those
that arise from interpretation of federal and state laws and regulations affecting the crude oil and natural gas exploration and
development industry, personal injury claims, title disputes, royalty disputes, contract claims, contamination claims relating to crude
oil and natural gas exploration and development and environmental claims, including claims involving assets previously sold to third
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARBradley G. Gray, President
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- 15SEC EDGARKirk R. Oliver, Board member
- 16SEC EDGARKathryn Z. Klaber, Board member
- 17SEC EDGARRandall S. Wade, Board member
- 18SEC EDGARFinancial statements and exhibits
- 19SEC EDGAREntered a material agreement
- 20SEC EDGARRegulation FD disclosure
- 21SEC EDGARRegulation FD disclosure
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- 24SEC EDGARFinancial statements and exhibits
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- 28SEC EDGARShareholder vote
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- 30NasdaqNasdaq calendar
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