Diversified Energy Company PLC (DEC)
Diversified to Acquire Complementary, High-Quality, Low-Decline Producing Assets
Accretive Acquisition of Contiguous Operating Position BIRMINGHAM, AL / ACCESSWIRE / July 10, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) ("Diversified" or the "Company") is pleased to announce the execution of a conditional purchase and sale agreement for the acquisition of high-working interest, operated natural gas properties and related facilities located within eastern Texas (the "Assets") from Crescent Pass Energy (the "Seller") (the "Acquisition"). The Acquisition will be funded through a combination of the issuance of approximately 2.4 million new U.S. dollar-denominated ordinary shares direct to the Seller and a senior secured bank facility supported by the acquired assets, along with existing and expanded liquidity from the Company's recently increased borrowing capacity.
Diversified Energy (DEC) Acquires Accretive Assets Worth $377M
Diversified Energy's (DEC) acquisition includes assets that currently produce approximately 122 million cubic feet equivalent per day and have PDP reserves of 510 billion cubic feet equivalent.
Diversified Energy Announces Completion of Acquisition & Credit Facility Upsize
BIRMINGHAM, AL / ACCESSWIRE / June 7, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) ("Diversified" or the "Company) announces the closing of its acquisition of the proportionate working interest in certain assets within the Company's Central Region (the "Assets") from Oaktree Capital Management ("Oaktree"), as announced on March 19, 2024 (the "Acquisition"). Concurrently, the Company also completed an acquisition-related redetermination of the borrowing base of its revolving credit facility (Sustainability Linked Loan, or the "SLL") resulting in a 26% or $80 million increase in the borrowing base to $385 million and estimated post-transaction liquidity of ~$130 million.
Diversified Energy Company completes Oaktree asset acquisition
Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) has now completed its latest asset acquisition, in its Central Region, through its previously announced agreement with Oaktree Capital Management. The acquisition, announced in March, closed at a purchase price of $410 million, with net adjustments bringing the total to $377 million.
Diversified Energy Closes Market Leading Securitized Financing
Solidifies Standing as the First, Largest and Consistent Performing Issuer of PDP Oil & Gas Securitizations BIRMINGHAM, AL / ACCESSWIRE / June 3, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) ("Diversified" or the "Company") is pleased to announce that on May 30, 2024, the Company closed on an asset backed securitization ("ABS") refinancing, creating the ABSVIII note (the "Transaction"). Diversified will use the proceeds from the Transaction to repay the outstanding principal of the previously issued ABSIII and ABSV notes, retiring those notes from the Company's outstanding debt.
Diversified Energy Company to be added to Russell 2000 index
Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) told investors its shares will be included in the Russell 2000 Index, from 1 July, following the latest reshuffle of the benchmark. "We are excited to join the Russell 2000 Index and increase our exposure to the US investment community, particularly following our solid first quarter results and the recent listing on the NYSE,” chief executive Rusty Hutson said in a statement.
Diversified Energy Company: Cheap Assets, Solid Dividend
Diversified Energy Company stock has been undervalued due to pessimism, despite consistent cash flow and strong adjusted EBITDA. The company owns wells in the Appalachian Basin and focuses on acquiring existing long-life producing wells. Q1 earnings showed solid cash flow, buybacks at attractive prices, and decreasing debt, suggesting the stock is mispriced.
