Diversified Energy Company PLC - DECPF STOCK NEWS

Diversified Energy Company PLC has finalized its acquisition of Tapstone Energy Holdings, LLC for approximately $181 million. This deal, announced previously, includes upstream assets, field infrastructure, and facilities. The acquisition boasts a 1.9x Adjusted EBITDA multiple, with estimated next twelve months' Adjusted EBITDA of $95 million. Diversified's post-transaction leverage stands at ~2.2x. The integration is expected to enhance cash flow, support ESG initiatives, and expand operational synergies, solidifying Diversified's position in the Central Region.

Diversified Energy Company PLC announced a significant increase in its borrowing base to $825 million, a 32% rise attributable to higher commodity prices and enhanced collateral from the acquisition of Tapstone Energy Holdings LLC. CEO Rusty Hutson, Jr. expressed gratitude to the Bank Group for their support, emphasizing the company's ability to generate strong free cash flow, fund ESG initiatives, and sustain dividends for investors. The next redetermination is scheduled for the second quarter of 2022.

Diversified Energy Company PLC has partnered with Bridger Photonics to implement multi-year aerial scans for methane emissions across its natural gas production in the Appalachian region. This initiative, part of a $15 million commitment, will see an annual investment of $3 million for three years, aiming for a 30% reduction in methane emissions by 2026 and net-zero by 2040. The company previously confirmed the effectiveness of Bridger's LiDAR technology in detecting emissions. This move is in line with Diversified's commitment to environmental stewardship and enhanced asset integrity.

Diversified Energy Company PLC has announced it will divest its working interest in undeveloped Haynesville acreage in Texas for approximately $72.8 million, netting $37.3 million to the company. This deal includes $33.7 million for 22,729 net acres and $3.6 million for 38 producing wells. The sale reduces the company’s investment in a previous transaction by 30%, lowering it to $81 million. The CEO emphasized the sale enhances liquidity and reflects the company’s strategy to maximize asset value. The transaction is expected to close by late December 2021.

Diversified Energy Company PLC (OTCQX: DECPF) announced the deployment of 500 additional methane emissions detection devices in its Appalachian operations, bringing the total to 600. This initiative follows the success of a pilot project that utilized 100 devices to effectively identify and mitigate methane emissions. The company emphasizes its commitment to environmental stewardship and sustainability through its Smarter Asset Management (SAM) programs and ongoing emission reduction investments. A discussion on these initiatives is scheduled for the upcoming Capital Markets Day on November 17, 2021.

Diversified Energy Company (LSE:DEC)(OTCQX:DECPF) announced its 3Q21 trading update, reporting a 13% increase in interim dividends to 4.25 cents per share, and an average net daily production of 128 Mboepd, a 20% increase year-over-year. The Hedged Adjusted EBITDA reached $92 million, up 22% from 3Q20, while the Free Cash Flow was $72 million, reflecting a 23% annualized yield. The company successfully retired ~115 Appalachian wells, exceeding state requirements. Looking ahead, Diversified is set for a Capital Markets Day on November 17, focusing on ESG initiatives and growth strategies.

Diversified Energy Company PLC (LSE:DEC) has declared an interim dividend of 4.25 cents per share for the third quarter of 2021, marking a 13% increase from 3Q20 and a 6% increase from 2Q21. The key dates are as follows: Ex-dividend date on 3 March 2022, Record date on 4 March 2022, and Payment date on 28 March 2022. The dividend will be paid in US dollars, with an option for sterling. CEO Rusty Hutson Jr emphasized their growth strategy's success in increasing production and cash flow, while also committing to ESG initiatives.

Diversified Energy Company PLC has announced the rescheduling of its Capital Markets Day to November 17, 2021, focusing on its environmental, social, and governance (ESG) initiatives. The event will take place at the Four Seasons Hotel in Houston, featuring discussions on growth strategies, financial stability, and asset management. Recent achievements include the retirement of approximately 115 wells in 2021, and new commitments to reduce emissions and enhance asset integrity. The company also welcomes James Sheehan as Vice President of Investor Relations, bringing extensive experience in the equity research sector.