Diversified Energy earnings rise 47%

US-focused oil and gas company Diversified Energy reported a 47% rise in annual earnings as it cashed in on higher prices during 2022 driven by the war in Ukraine.

The company posted adjusted core earnings of $503m. Free cash flow fell to $219m from $228m.

Total Revenue rose 90% to $1.9bn and dividends paid per share were up 6% to 17 cents.

Reporting by Frank Prenesti for Sharecast.com