Diversified EnergyNYSE: DEC

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.

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 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 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.

DEC ended the most recent trading session at $13.21, showing a decrease of 0.3% from the previous day's closing price.

DEC closed at $13.63 on the latest trading day, showing a decrease of -1.23% from its previous close.

Some small-cap stocks to consider for investment are UTI, DEC, RM, YEXT, and TILE.

Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) told investors it has engaged Peel Hunt giving the broker instructions to continue the company's share buybacks. It ensures the buyback programme continues during close periods.

Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) has published its annual sustainability report, for 2023. This report, the company's fifth, showcases a 33% decrease in methane intensity which, as the company highlighted, surpasses its 2026 target for a 30% reduction and also sees it achieve its 2030 goal of a 50% reduction seven years early.