Diversified Energy Share Discussion Threads

[fordtin] 09/10/2023 10:27

The only reason I can think of for the absence of acquisitions and the quite frankly pathetic volumes of the buybacks to date, is that maybe management believe if they wait long enough, the macro conditions will deteriorate, making acquisitions and/or buybacks even cheaper.

[lab305] 09/10/2023 09:09

fordtin absolutely correct, so why are they not purchasing more shares at these levels ?

[fordtin] 09/10/2023 08:59

I know what you mean, I was starting to think the lacklustre buybacks were a sign they were preserving capital for an acquisition so spectacular it would make buybacks look like poor value.
However, the Directors’ buys seem to rule out any current negotiations and rising gas prices suggest the window of opportunity could be closing.

[tom111] 09/10/2023 08:39

Not for now fordin but it must imo come sooner or later gl

[laurence llewelyn binliner] 09/10/2023 08:31

#fordtin, nice to be able add some more hedging at higher prices.. :o)

[fordtin] 09/10/2023 08:12

Gas futures looking perky this morning;

Natural Gas Nov 2023 $3.471
Natural Gas Dec 2023 $3.756
Natural Gas Jan 2024 $3.975
Natural Gas Feb 2024 $3.892
Natural Gas Mar 2024 $3.588
Natural Gas Apr 2024 $3.325
Natural Gas May 2024 $3.326
Natural Gas Jun 2024 $3.427
Natural Gas Jul 2024 $3.530

[fordtin] 09/10/2023 08:09

tom - Directors buying suggest there are no significant near-term acquistions on the cards.

[lab305] 09/10/2023 08:07

Yep . No Buybacks again on Friday and recovery in share price stalled in comparison to day before.

[tom111] 09/10/2023 07:37

I still think another acquisition is on the cards and that the buy backs are just a token jesture

[croasdalelfc] 08/10/2023 19:42

Information that would interesting is whether the 4000 bopd from the Tanos acquisition are hedged? And at what price?From acquisition: Additionally, DEC acquired a basket of hedge arrangements, including a guaranteed average GAS price-floor for 60% of the acquired PDP production of US$3.80 per thousand cubic feet (Mcf) during calendar year 2023...With a barrel of oil worth 4 or 5 times the equivalent gas then those 4k barrels of oil are very lucrative if unhedged.4000 barrels of oil? I hear you say... yes 24% of 17kboepd

[1knocker] 08/10/2023 16:23

HL in top spot shows that this is a PI share.
I would have expected that at least the odd income IT would feature as a big holder.

[laurence llewelyn binliner] 08/10/2023 13:26

#Fordtin, interesting, and yet we have not see a TR1 for anyone suggesting a move +/-1% or 3% total has happened.. ? ..(yet)

[tom111] 08/10/2023 11:56

If Iran is involved in the war with Israel i can repercussions by the US re further sanctions on oil production lets see how it unfolds

[carcosa] 08/10/2023 09:11

If you look at their associated RNS notifications (Oct 5/21, Nov 15/22, Nov 30/22. Mar 2/23, Apr 19/23 and Jun 6/23) it looks like they frequently go above and below the 5% threshold with minimal changes in their actual shareholding.

[fordtin] 08/10/2023 08:34

According to First Berlin the top 4 shareholder list has had quite a shuffle since 12th July.
I wonder if Pendal have left the building, or just dropped below 4%.

6/10/23
SHAREHOLDERS
Hargreaves Lansdown 5.0%
Vanguard Group Inc 4.8%
Blackrock Inc. 4.4%
Ameriprise Financial Inc. 4.0%
Free float and other 81.8%




12/7/23
SHAREHOLDERS
Pendal Group Ltd. 5.0%
Hargreaves Lansdown 4.8%
Blackrock Inc. 4.5%
abrdn plc 3.9%
Free float and other 81.7%

[t 34] 07/10/2023 21:00

current ratio=0.33 at the bottom of cash flow statement,
the top right part of document : current assets $338.7 m ; current liabilities $713.08 m so current ratio 0.47 , higher but still less then 1 .Is it something to worry ?? (First Berlin Research Note ).

[lomand01] 07/10/2023 20:01

1knocker. You are correct. The tier 1 acreage has largely been drilled. The next wells will be more expensive to drill and less productive. It will need gas prices at higher levels to maintain production.With all this LNG capacity coming on-line it is difficult to understand where the gas is going to come from. The days of flaring gas are over.

[tom111] 07/10/2023 11:14

Thanks TAG

[1knocker] 07/10/2023 11:02

I saw an article (sorry, I have forgotten where) which stated that Permian basin gas production is suffering the same production fall off as shale oil wells did, and construction of new wells is not keeping pace with the export terminal expansion fuelled by export prices which far exceed anything which the domestic market pays, and thus predicting tightness rather than glut of supply. The prediction was for higher US domestic gas prices over the next few years.
If that overview is right is right, it bodes well for DEC.

[tag57] 07/10/2023 10:01

Tom111, DEC has around 20%+ unhedged I believe so higher prices should help their financials and improve margins and cash flow. Also hopefully give the opportunity to hedge at higher prices assuming future prices are also increasing.

[tom111] 07/10/2023 09:50

Silly question but do DEC benifit greatly with a higher gas price ie hedge at the high price thks

[fordtin] 07/10/2023 09:25

"The author, First Berlin, or a company associated with First Berlin holds an interest of more than five percent in the share capital of the analysed company"

They'll definitely endeavour to maintain a neutral bias then!

[tom111] 07/10/2023 07:03

Since when do brokers ever get it right though

[scrwal] 06/10/2023 22:10

Latest First Berlin report

[lab305] 06/10/2023 21:24

Looking at the volumes they have the opportunity now to crank up the buybacks but I bet they don't. A flood of favorable broker notes over the last couple of days may unfortunately lead to a complacent attitude. Look we don't have to buy as First Berlin etc say we are worth 180p. Well yes they do have to buy and now 1 or 2 million a day otherwise we will just fester around 70p.