Diversified Energy reports higher profits despite weaker prices

Diversified Energy on Friday reported increased half-year profits as its hedging policy and higher production offset weaker oil and gas prices.

The company said adjusted core earnings rose 26% to $283m, despite a 48% revenue decline to $487m for the six months to June 30 as the average realised sales price fell 52%.

Reporting by Frank Prenesti for Sharecast.com