Diversified Energy Company is an established, independent owner and operator of producing natural gas & oil wells in multiple regions of the United States. Our Appalachian operations are located throughout in the states of Tennessee, Kentucky, Virginia, West Virginia, Ohio, and Pennsylvania, where we are the largest independent conventional producer. Diversified entered into its Central Regional Focus Area in 2021 with operations in the states of Louisiana and Texas.
We have grown rapidly over the last few years, capitalizing upon opportunities to acquire and enhance producing assets within our primary focus areas and leveraging the operating efficiencies that come with economies of scale.
Our goal is to acquire and manage mature natural gas and oil properties to generate cash flows and provide stability and growth for the long-term benefit of our stakeholders.
We capitalize on the opportunity to acquire complementary producing conventional and non-conventional gas and oil assets within our operating footprint from industry players who are seeking to re-focus their financial resources. Our target assets are characterized by predictable production rates, long-life (40 to 50+ years), and low decline rates. Any undeveloped acreage positions which may accompany the acquisitions at no added cost provide a significant low-risk opportunity for organic growth in the appropriate commodity price environment.
We maximize production from our portfolio through the deployment of rigorous field management programs and accelerating or extending production by deploying new extraction technology and/or refreshing decayed infrastructure on poorly maintained wells. Complementary and synergistic midstream acquisitions provide net operating cost reductions via flow assurance, revenue diversification and access to better-priced markets. Through operational efficiencies, we demonstrate our ability to maximize value by enhancing production while lowering costs.
We protect our robust margins by combining our operational acumen with a thoughtful yet opportunistic hedging program that sustains and creates a line of sight to positive cash flows, producing the foundation for our long-standing commitment to maintaining a strong balance sheet and delivering shareholder returns in the form of consistent dividends.