Diversified Energy Co PLC - Alabama, US-based gas and oil production company - Says it has completed its spring 2023 semi-annual borrowing base redetermination. Adds that it received 100% approval from its 14-bank lending syndicate of the facility's USD375 million borrowing base. Notes that its borrowing base is structured as a sustainability-linked loan, and is aligned with its commitment to ESG improvement.
"We are grateful for the unanimous approval from our 14 banks of the USD375 million sustainably-linked loan borrowing base. Their support reflects confidence in the quality of our assets and our ability to acquire additional high-quality, mature-producing assets. I continue to be proud of our team's accomplishments and look forward to building on our success in 2023 as we systematically service our amortizing debt to create value for shareholders and optionality for the future," comments Chief Executive Rusty Hutson.
Current stock price: 90.95 pence each, up 0.7%
12-month change: down 23%
By Harvey Dorset, Alliance News reporter
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Diversified Energy (DEC)