Diversified Energy Company PLC (DEC)
Diversified Energy Completes Crescent Pass Acquisition
BIRMINGHAM, AL / ACCESSWIRE / August 16, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) ("Diversified" or the "Company") announces the closing of its acquisition of the 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"). Acquisition Highlights Purchase price of $106 million before customary purchase price adjustments Acquisition net purchase price of $101 million after customary purchase price adjustments PDP reserves of ~170 Bcfe (~28 MMBoe) and a PDP PV10 of ~$155 million(a) Current net production of 38 MMcfepd (~6 Mboepd)(b) Estimated NTM Adjusted EBITDA of ~$26 million(c) Purchase price multiple of ~3.8x(c) As previously announced, the net consideration for the Acquisition consists of a combination of the issuance of 2,249,650 new US-dollar denominated ordinary shares to the Seller (the "New Shares") (subject to a customary commercial lock-up agreement), and cash consideration of $71 million, drawing from a senior secured bank facility supported by the acquired assets and existing liquidity.
Diversified Energy Announces Second Quarter Dividend
BIRMINGHAM, AL / ACCESSWIRE / August 15, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) ("Diversified" or "the Company") is pleased to announce that the Board has declared an interim dividend of 29 cents per share in respect of 2Q24 for the three month period ended June 30, 2024. Key dates related to this dividend include: Record Date: November 29, 2024 Payment Date: December 27, 2024 Default Currency: US Dollar Currency Election Option: Sterling Last Date for Currency Election: December 6, 2024 Diversified will pay the dividend in U.S. dollars while continuing to make available to shareholders a sterling election.
Diversified Energy Announces Timing of 2024 Interim (First Half) Results
BIRMINGHAM, AL / ACCESSWIRE / August 7, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) ("Diversified" or the "Company") is pleased to announce that the Company plans to publish its Interim Results for the six months ended June 30, 2024 (the "Interim Results") on Thursday, August 15, 2024. The Company will host a conference call that day at 2:00 PM BST (9:00 AM EDT) to discuss the Interim Results and will make an audio replay of the event available shortly thereafter.
Diversified Energy Company latest deal exemplifies value-adding ‘bolt-on' strategy - ICYMI
Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) this week announced the acquisition of Cotton Valley assets in East Texas. These established assets are described as being strategically located with low decline rates.
Diversified Energy Company new assets are “high-quality and well-priced” additions - broker
Diversified Energy Company PLC's (LSE:DEC, NYSE:DEC) latest asset acquisition in Texas looks like a high-quality and well-priced addition, that's according to analysts at stockbroker Peel Hunt. The broker, following today's deal news, repeated a ‘buy' recommendation for the London and NYSE listed American oil and gas company.
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.
