Diversified Energy Company to cultivate new ‘region of focus’ as it aims to replicate Appalachia suc

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  • Diversified Energy CEO thrilled with first-half activity
  • Diversified Gas & Oil’s Louisiana expansion is no surprise, says broker
  • Diversified Energy close first half with acquisitions of three asset packages for total of US$342m
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Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

05 Aug 2021

(, , ) () chief executive Rusty Hutson said he is thrilled with the performance in what is described as an active first half of 2021.

During the period, the firm launched a new leg in its growth strategy, establishing the ‘central’ focus area including territories in Louisiana, Texas, Oklahoma and Arkansas. It bolstered the portfolio in this area with the acquisition of three asset packages for a total of US$342mln.

DEC’s production business continued to perform well, setting a new record with an average rate of 106,000 barrels oil equivalent per day for the six-month period and exited the half with 116,000 boepd.

Earnings (hedged and adjusted EBITDA) amounted to US$151mln for the group and it generated US$117mln. It reported a net loss of US$84mln and adjusted net income of US$204mln, which includes US$81 of estimated tax credits based on production performance.

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05 Jul 2021

() has further expanded its footprint in its new growth area with a deal to acquire assets in the states of Louisiana and Texas.

It is acquiring a package of 390 wells currently producing 14,000 barrels oil equivalent per day (boepd), of which 96% is natural gas, alongside co-investor Oaktree Capital Management.

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21 May 2021

() confirmed it has raised US$225mln in a placing and retail offer as it advances its latest acquisition.

It will issue 141.5mln new shares at 112p per share.

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30 Apr 2021

‘s () acquisition of a package of assets in Louisiana should come as “no surprise”, according to analysts at broker SP Angel.

In a note on Friday, analysts said it was “a buyers’ market in the US” and the US$135mln acquisition of the Cotton Valley package, which includes some 16,000 barrels oil equivalent per day (boepd) of production across 780 net operated wells, “appears to be typically attractive” and presented “clear opportunities” for growth through operational synergies.

SP Angel added that investors “can look forward to a stable dividend policy” given the company’s “strong balance sheet, efficient cost structure, improved commodity price outlook, strong hedge protection and a robust outlook of potential accretive growth”.

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12 Aug 2021

Diversified Energy () CEO Rusty Hutson joins Proactive London’s Katie Pilbeam to go through some of the key themes from their first half of 2021.


Hutson also explains the pre-tax loss as a result of non-cash impairment caused by their hedging positions, a common occurrence for all energy companies that hedge.


With three material acquisitions giving the firm a foothold in a new region, Hutson details the significance of this new region entry (Louisiana, Texas, Oklahoma and Arkansas) and how they plan to maximise value from all these operations.

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Diversified Energy close first half with acquisitions of three asset…

Diversified Energy (LON:DEC) CEO Rusty Hutson joins Proactive London’s Katie Pilbeam to go through some of the key themes from their first half of 2021.


Hutson also explains the pre-tax loss as a result of non-cash impairment caused by their hedging positions, a common occurrence for all…

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