Diversified Energy Regulatory News (DEC)

05 October 2023

 

 Diversified Energy Company PLC

("Diversified" or the "Company")

 

Comment on Share Price and Production Update

 

Diversified Energy Company PLC (LSE:DEC) today notes the recent decline in its share price and confirms it is unaware of any operational or Company specific reason for this share price movement.

 

By way of a general update, the Company refers to our recent Announcement of the Interim Results for the Six Months Ended 30 June 2023, which were released to the market on 1 September 2023, along with the Announcement of the Increase in Borrowing Base, which was announced on 26 September 2023. Further to these announcements, Diversified confirms there has been no material change in its financial or operational condition.

 

The Company is pleased to provide an update to the market on its most recent Third Quarter 2023 production results, which are anticipated to be in the range of 805 MMcfepd (134 Mboepd)- 830 MMcfepd (138 Mboepd), in line with expectations, and reflects the  sale of our non-operated assets completed during the second quarter of 2023.

 

Additionally, given the current equity market dynamics, the Company is no longer pursuing its previously communicated desire to list shares in the US. The Company will continue to execute share repurchases under its previously announced share repurchase program. 

 

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About Diversified Energy Company PLC

 

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing, transportation, and retirement of primarily natural gas related to its US onshore upstream and midstream assets.