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 (DEC) provides investors and industry observers with timely updates on its natural gas and oil operations across the Appalachian Basin. This page aggregates official press releases, financial reports, and strategic announcements related to DEC's core activities.
Access consolidated information on asset acquisitions, production updates, and operational efficiencies through our curated news collection. Users will find updates categorized by:
Earnings reports detailing quarterly performance
Asset transactions including acquisitions and divestitures
Operational milestones in gas/oil production
Strategic initiatives like midstream optimizations
Bookmark this page for streamlined access to DEC's evolving position as a leader in mature energy asset management. All content is sourced directly from company communications to ensure accuracy and compliance with financial disclosure standards.
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.
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.
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.
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.
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.
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.
