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Diversified Energy Company PLC - dec STOCK NEWS

Welcome to our dedicated page for Diversified Energy Company PLC news (Ticker: dec), a resource for investors and traders seeking the latest updates and insights on Diversified Energy Company PLC stock.

Diversified Energy Company plc (symbol: DEC) is an independent owner and operator of producing natural gas and oil wells. Concentrated primarily in the Appalachian Basin, the company acquires, manages, and optimizes gas and oil properties, along with associated midstream assets across several states including Tennessee, Kentucky, Virginia, West Virginia, Ohio, Pennsylvania, Oklahoma, Texas, and Louisiana.

Diversified Energy's core business strategy involves acquiring long-life assets, enhancing their operational and environmental performance, and eventually retiring these assets safely. This stewardship model has earned the company recognition for sustainability leadership from various ratings agencies and organizations.

Recently, the company celebrated a significant milestone by listing its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol 'DEC', while maintaining its premium listing on the London Stock Exchange. This dual listing is expected to raise the company's profile in the US, broaden its access to high-quality equity investors, and attract more equity research analysts. The increased visibility is anticipated to enhance daily trading liquidity and open additional financing avenues, supporting the company's acquisitive growth strategy.

In terms of financial health, Diversified Energy recently executed a series of strategic transactions to bolster liquidity and reduce leverage. Notably, the company sold producing assets in Appalachia to a Special Purpose Vehicle (SPV), generating substantial proceeds and significantly reducing net debt.

The company also prides itself on its emission reduction initiatives. Diversified has achieved a Gold rating from the Oil & Gas Methane Partnership and Project Canary for its rigorous emissions monitoring. The company has reduced its Scope 1 emissions by more than 25% since 2020 and continues to deploy state-of-the-art detection equipment and protocols.

Furthermore, Diversified Energy's subsidiary, Next LVL Energy, has made strides in well retirement, having retired approximately 214 wells in 2022. The company collaborates with various states to retire orphan wells in a cost-efficient, environmentally sound manner.

The company's recent acquisition of working interests from Oaktree Capital Management in its Central Region assets is set to enhance production and cash flow. The deal also includes advantageous hedging contracts to protect against market volatility.

In summary, Diversified Energy Company plc is strategically positioned to responsibly produce energy, generate reliable free cash flow, and create shareholder value while emphasizing sustainability and operational excellence.

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Diversified Energy Company PLC (LSE:DEC) (NYSE:DEC) has announced its participation in several upcoming investor engagement events. The company's management team, including CFO Brad Gray and SVP of Investor Relations & Corporate Communications Douglas Kris, will attend investor meetings organized by Mizuho in Toronto on July 17, the Truist Energy Event in Denver on August 19, and the EnerCom Conference in Denver on August 20-21. Additionally, Douglas Kris and Senior Manager of Investor Relations Wren Smith will attend the Midwest IDEAS Conference in Chicago on August 29. Materials related to these presentations are available on the Company's website.

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Diversified Energy has announced its acquisition of high-working interest, operated natural gas properties in eastern Texas from Crescent Pass Energy for $106 million. The acquisition will be funded through a combination of new share issuance and a senior secured bank facility, with an estimated net purchase price of $100 million. The assets include 827 net operated PDP wells, adding 38 MMcfepd of production and 170 Bcfe reserves with a PV-10 valuation of $155 million. The acquisition is expected to close in Q3 2024 and is strategically aligned with Diversified's focus on high-quality, low-decline assets.

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Diversified Energy Company (DEC) has completed acquiring a proportionate working interest in certain assets within their Central Region from Oaktree Capital Management. The acquisition, initially announced on March 19, 2024, was closed on June 7, 2024, for a net purchase price of $377 million after adjustments. The acquired assets include PDP reserves of 510 Bcfe with a PDP PV10 value of approximately $462 million. The current net production is 122 MMcfepd, with an estimated 2024 Adjusted EBITDA of ~$126 million.

Additionally, Diversified Energy has increased its revolving credit facility by 26% or $80 million, bringing the total borrowing base to $385 million. This upsize results in an estimated post-transaction liquidity of around $130 million.

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Diversified Energy Company (LSE:DEC; NYSE:DEC) announced its inclusion in the Russell 2000 Index, effective July 1, 2024. This follows the company’s solid first-quarter results and recent NYSE listing. CEO Rusty Hutson, Jr. highlighted that the inclusion is a significant milestone, expected to broaden their investor base and enhance trading liquidity. The Russell 2000 Index, part of the annual Russell US Indexes reconstitution, is considered a bellwether of the US economy, focusing on small-cap American businesses. About $10.5 trillion in assets are benchmarked against these indexes, utilized extensively by investment managers and institutional investors for index funds and active investment strategies.

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Diversified Energy has announced that its management team will participate in several upcoming investor meetings and conferences. These events include Stifel Investor Meetings on May 23 in Dallas, the Louisiana Energy Conference on May 29-30 in New Orleans, the Jefferies Energy Conference on June 5-6 in Kiawah Island, the JP Morgan Energy Conference on June 18 in New York City, and the KeyBanc Investor Meetings on June 25 virtually. Members attending include CEO Rusty Hutson, CFO Brad Gray, and SVP-IR & Corporate Communications Douglas Kris among others. Presentation materials will be available on the company's website.

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Diversified Energy Company PLC (DEC) reported solid first-quarter results with a focus on debt reduction, expense improvements, and the benefits from the expansion of NGL processing capabilities at the Black Bear facility. The company recorded stable production figures, positive cash flow, adjusted EBITDA, and free cash flow. Additionally, strategic acquisitions, share repurchases, debt reduction, and the completion of the Oaktree working interest acquisition are highlighted. The company's commitment to sustainability and value creation through stewardship is emphasized, along with updates on emissions reduction activities, well retirements, and financial derivatives portfolio management.

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Diversified Energy Company PLC announces participation in upcoming investor meetings and conferences with key management team members. Presentation materials available on the company's website.
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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.
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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.
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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.
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FAQ

What does Diversified Energy Company plc do?

Diversified Energy Company plc is an independent owner and operator of producing natural gas and oil wells, primarily focused in the Appalachian Basin. The company acquires, enhances, and eventually retires long-life gas and oil assets.

What recent achievements has Diversified Energy Company plc made?

Recently, Diversified Energy listed its shares on the New York Stock Exchange (NYSE) under the ticker symbol 'DEC', in addition to its premium listing on the London Stock Exchange.

How does Diversified Energy contribute to sustainability?

The company is recognized for its sustainability leadership, having achieved a Gold rating from the Oil & Gas Methane Partnership and Project Canary for emissions monitoring. It has reduced Scope 1 emissions by over 25% since 2020.

What are Diversified Energy's key projects?

Key projects include the acquisition of working interests from Oaktree Capital Management, enhancing production and cash flow in its Central Region assets, and the strategic sale of assets to a Special Purpose Vehicle to improve liquidity.

What is Diversified Energy’s financial condition?

The company has executed strategic transactions to bolster liquidity and reduce leverage, generating significant proceeds and reducing net debt by approximately 12%.

How does Diversified Energy manage its operations?

Diversified Energy optimizes its operations by acquiring long-life assets, improving their performance, and retiring them safely. It also collaborates with states to retire orphan wells efficiently.

What is the significance of Diversified Energy’s US listing?

The US listing on the NYSE is expected to raise the company's profile, broaden access to high-quality equity investors, and attract more equity research analysts, enhancing daily trading liquidity.

Who are the key partners of Diversified Energy?

Key partners include state governments for well retirement programs and financial institutions supporting liquidity and strategic acquisitions.

What products does Diversified Energy offer?

The company primarily produces natural gas and oil. It also invests in midstream assets and engages in the transport and marketing of these resources.

How does Diversified Energy plan to grow in the future?

The company plans to continue its strategy of acquiring and optimizing long-life assets, enhancing environmental performance, and leveraging strategic partnerships to expand its operational footprint and financial stability.

Diversified Energy Company PLC

NYSE:DEC

DEC Rankings

DEC Stock Data

775.13M
47.64M
14.02%
70.05%
2.08%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
Birmingham