Diversified Energy Company plc - $dec STOCK NEWS

Diversified Energy Company PLC (DEC) achieves significant sustainability milestones in its fifth annual Sustainability Report, reducing methane intensity by 33% surpassing 2026 and 2030 targets ahead of schedule. The company retired over 400 wells, contributing $1 billion to state GDPs and supporting nearly 8,000 jobs.

Diversified Energy Company PLC (DEC) announces final audited results for 2023, including record production levels and strong financial performance. The company enters into a strategic acquisition agreement with Oaktree Capital Management and implements a revised capital allocation framework. The acquisition aims to strengthen the balance sheet and provide sustainable shareholder returns. CEO Rusty Hutson, Jr. emphasizes the company's commitment to disciplined growth and long-term shareholder value creation.

Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) closed an innovative transaction, selling producing assets in Appalachia to a Special Purpose Vehicle, generating proceeds of approximately $200 million. The transaction resulted in a 12% reduction in net debt and an implied valuation multiple of 5.7 times the expected hedged 2024 EBITDA of approximately $35 million.

Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) responds to a request for information from the United States House of Representatives Committee on Energy and Commerce regarding its well retirement and emissions information. The company has received a Gold rating by the Oil & Gas Methane Partnership and Project Canary for its measurement-driven approach across its asset footprint, and has significantly expanded its well retirement segment, retiring approximately 214 wells in 2022. The company is committed to transparency and environmental responsibility, working with other stakeholders to drive positive changes and improvements to its assets.

Diversified Energy Company PLC (DEC) is pleased to announce that trading in its ordinary shares will commence at U.S. market open today on the New York Stock Exchange (NYSE) under the ticker symbol 'DEC' as part of the Company's previously announced US listing process. The Company will retain its premium listing and will continue to trade on the main market of the London Stock Exchange (LSE). Furthermore, it is expected that the Company will also continue to be a constituent of the FTSE 250 index in the UK. No ordinary shares are being offered or sold in connection with the US listing. The Board believes that the US listing will benefit the Company and its shareholders for multiple reasons, including raising its profile in the US, broadening access to high-quality equity investors, increasing the ability to attract a broader group of equity research analysts, enhancing daily trading liquidity, and potentially providing access to additional financing options. CEO Rusty Hutson, Jr. expects the NYSE listing to facilitate increased ownership by US domestic funds over time. The Company's executive team plans to undertake additional investor engagement to enhance understanding and awareness of the Company's strategy. John Tuttle, Vice Chair of the NYSE Group, expressed excitement in welcoming Diversified Energy to the NYSE community as a leading US domestic producer of natural gas.