Diversified Energy Share Discussion Threads

[justiceforthemany] 19/12/2023 15:30

lab305 - that fella you mention is sat without a job currently though. Did he resign or was he pushed?

[cynicalsteve] 19/12/2023 15:30

This is why I'm reluctant to invest in UK quoted companies that do most of their business in the USA. The United States is not the country we think it is, it shouts about free trade but creates obstacles for foreign companies and it's legal system is politicised and biased.
Examples:
After the Deepwater Horizon oil spill Obama made a point of calling BP 'British Petroleum' and American businesses that had suffered no loss where awarded compensation.
Shortly after BATs takeover of Reynolds a major investigation into the tobacco industry was announced.
Trans-Atlantic crossings by Concorde were delayed because the Americans decided it was 'too noisy'.
Caveat Emptor!

[hericsaba] 19/12/2023 15:14

Trading USD14.5 in NY vs. GBP10.5 in LSE. That's still a big difference...

[lab305] 19/12/2023 15:01

If nothing else Eric resigning should have been a massive red flag.

[timmy11] 19/12/2023 14:55

December 19, 2023



Diversified Energy Company PLC

("Diversified" or the "Company")


Diversified Responds to Market Reaction


Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) today is providing a response to the movement in its share price. On December 18, 2023, the Company received a request for information from four members of the minority party (52 member committee) of the United States House of Representatives Committee on Energy and Commerce regarding its well retirement and emissions information. The Company is reviewing the letter and intends to engage in a positive and open manner, as it has continuously done, by providing information regarding the Company's peer-leading environmental and operational actions that underpin its responsible asset stewardship approach.


One of the reasons cited for the information request was a 2021 media report that broadly speculated and inaccurately described numerous items, including how the Company addresses emissions and well retirement. Diversified has previously provided information on these topics and continues to transparently disclose all sustainability-related information, including emissions and well retirement, in its filings and annual sustainability reports. The Company has been awarded a Gold rating by the Oil & Gas Methane Partnership (OGMP) and Project Canary, two of the leading independent emissions monitoring programs for its measurement-driven approach across its asset footprint. The company has also dramatically reduced its reported Scope 1 emissions by more than 25% compared to 2020 and continues to deploy emissions best-in-class detection equipment and protocols, which includes completing emissions detection surveys on all its natural gas wells.


The Company has significantly expanded its well retirement segment, Next LVL Energy, allowing it to retire approximately 214 wells in 2022. Full modeling and accounting for the company's asset retirement obligations are audited by independent, global accounting firms and reserve engineers and transparently disclosed. In addition, Diversified has partnered with a number of states within its Appalachian footprint to retire state-owned orphan wells in a cost-efficient and environmentally sound manner.


As a Company that is part of the solution to a broader challenge of aging infrastructure that many industries face, including the energy industry, a core thesis of the unique and differentiating value we create is making the necessary time and monetary investments into the assets to improve their environmental and operating performance. The ownership and stewardship of mature assets allow us to be part of the solution, and Diversified and its employees are very proud to be doing our part for the energy industry in the United States. Working with other stakeholders, such as governments, the technology industry, and the energy industry, we will continue to drive positive changes and improvements to our assets, making Diversified the Right Company at the Right Time.

[11_percent] 19/12/2023 14:51

Down 11% on NYSE.

[11_percent] 19/12/2023 14:49

Down 11% on NYSE.

[scrwal] 19/12/2023 14:47

ii won't let me buy the US shares but on a dummy LSE trade there isn't any stamp duty anymore.

[fred177] 19/12/2023 14:40

From Todays Telegraph

Many of us have been exasperated by the antics of Just Stop Oil protesters. Now, I believe that these are well-meaning and committed to their cause and I am sure that they think that they are trying to save the planet in the best way they can think of – gain publicity, get people talking and influence politicians.

But what would happen if we literally just stopped oil tomorrow and did without the natural resources on which the world, its economies and populations depend? The answer: most likely six billion people would die within a year.

I am going to assume the “oil” in Just Stop Oil means fossil fuels – so oil, gas and coal. I am also going to assume that we have today’s technological knowledge and infrastructure, so we are talking about stopping fossil fuels now, not at some unspecified time in the future.

Day 1 – no more mining of coal; the world’s oil wells shut down; the world’s gas fields likewise. The first to feel the change would be gas users.

Gas stocks held above ground are typically not that high. So the UK would quite quickly, say in 10 or 15 days, have to turn off its gas distribution system as it would be unable to maintain pressure.

This would mean in turn that the domestic supply would be shut down too – gas would stop flowing, and some 21 million households (74pc of the population) would no longer have heating, hot water, and cooking facilities. In their panic, people might turn to electricity for their cooking and heating, but wait…

The UK electricity grid relies on natural gas as its “buffer” energy source. Every day, demand varies according to consumer demand, and the other main energy supplier, renewables, are highly variable and can only power the grid when gas is picking up the lion’s share of the gap between their output and consumer demand.


So the moment that the main gas distribution system is de-pressurised, the grid-balancing system fails and power cuts ensue.

It is impossible to gauge how extensive these power cuts would be, but the grid would be so seriously compromised, possibly fatally, that they may be widespread and permanent.

Electricity demand would have rocketed through the switch to electric space heating, cooking and water-heating, and so it seems very likely that the sudden excess demand would be undeliverable, and therefore that the grid would spiral into uncontrollability.

No electricity means no communication systems – no mobiles, no TV, and no running water. With no power and no heating, vulnerable people start to die.

Initially just the elderly in their own homes, then in hospitals when the diesel back-up generators run out of fuel, but then new existential problems emerge for ordinary people in the form of food availability and distribution.

Day 25 – I’m probably being generous with the timing here, but diesel and petrol are likely to have run out by day 25. This means that food distribution would fail, and so the population, most of which are entirely dependent on bought food, begin to starve.

In dire national emergencies, international help is often forthcoming, but in this case, this scenario is taking place, in largely identical ways and timing, across the developed and developing world. Only isolated rural communities, agriculturally self-sufficient, would be relatively unaffected. So no international rescue mission.

Day 50 – in the urban world, many people would be near death from starvation. In the 50 days since the ending of fossil fuel supply, law and order would have broken down, and I suspect that mass conflict and slaughter would have been taking place with the increasingly desperate search for the means of survival.

But disease would be on the rampage too, with no power, no water supply and no sewage flow, so cholera, dysentery and all the other Victorian diseases of crowding would take over.

Day 100 – just three months or so since the world just stopped oil – my guess is that around half of the world’s population (say four billion people) would be dead. The first to die would be the urban poor; then the middle and upper classes, with money and status becoming increasingly irrelevant with the passage of time.

The survivors would be largely rural, able to live off local agricultural produce, or live off dwindling food stocks.

Accessing food and safe water for urban dwellers (about 55pc of the 2023 world population) would be nigh-on impossible, as all the normal distribution routes for food would have failed, and storage facilities (chillers/freezers) would also have failed without electricity.

Pumped water would be unavailable, so access to clean water would be close to impossible.


Day 365 – perhaps a further two billion people would have starved or frozen to death, leaving, say, two billion left alive; remaining food stocks would have been exhausted or spoiled, and the inevitable breakdown of law and order would have meant many would meet a violent end.

Competition for scarce resources, so elegantly solved by the invention of markets and prices, would be replaced by murder and mayhem. The means to reverse the just stop oil experiment would have gone, and the future of humans on the planet would be as insecure as at any time in human history.

The mass extinction would have robbed societies of their cultures, education and survival techniques. A new dark age would ensue.

I have summarised what is a nightmarish scenario. But everything I claim is well supported by fact. For those interested in understanding the intricate interweaving of humans and fossil fuels, I would recommend Vaclav Smil’s book How The World Really Works.

This is not a book written by someone with a particular interest in fossil fuels; it’s just a very well-balanced description of how modern civilisation actually works (as the title claims).

The world took two centuries to build the fossil-fuel based energy infrastructure. That infrastructure represents a material part of the investment savings of the world; it provides humans with huge amounts of flexible, usable energy at extremely modest cost.

This affordability has reached right down to the world’s poor and is transforming their lives – China and India being stand-out examples.

Here’s my question: do the nice, well-meaning people of Just Stop Oil understand how the world works, or not? If they do, they are nihilists; if they don’t, then why are they disrupting the smooth running of our society, promoting an extreme course of action of which they have no understanding?

If, by the way, my analysis is wrong, they should enlighten us on how an immediate ban on fossil fuels will allow civilisation to continue and flourish.

To be clear I am not suggesting that the world is forever in the grip of fossil fuels. Far from it. History tells us that human civilisation is a story of constant change.

Humans are inventive and adaptable, and fossil fuels are also finite. So in due course new, cheap, non-fossil-fuel energy sources will be developed, new ways of storing and transporting energy will be perfected, and fossil fuel use will slowly become a thing of the past; a transition from one world to another – abetter one.

But I suppose the slogan, “Stop oil when the technological and economic conditions allow it, consistent with an improvement in human wellbeing and that of the planet” is not such a catchy phrase.

[cassini] 19/12/2023 14:40

No, the LSE listing, via ii.

[cassini] 19/12/2023 14:39

Back to sanity now (sort of).

[hericsaba] 19/12/2023 14:38

The spread here never been high, always under 1%. Are you talking about the NewYork listing? Anyway it's already 23% down today, RNS looks useless or even worse...

[cassini] 19/12/2023 14:37

Unbelievably, the spread is back to front as well.

I tried to place an order to see if this was real (free money!) but ii put up a dialogue box saying the price wasn't confirmed and it would be at 'best'.

[cassini] 19/12/2023 14:32

10% spread!

[tsmith2] 19/12/2023 14:15

Like the response, have bought some

[1knocker] 19/12/2023 14:13

asp5, I very much hope you are right. I am no conspiracy theorist, but I do see real malice in the timing of this, to coincide with the US listing. Probably worth a few dollars from Bloomberg for the Democrat election coffers too! Unfortunately 'saving the taxpayer from rapacious O & G companies is a theme hich plays well at elections too, even if the narrative is completely false. At best, i think this a cloud which will hang over us for some time. The Bloomberg knife job did not worry me (i took it as a buying opportunity) but this does.

There are also loons like 'my retirement fund' amongst the electorate who believe that if you close down oil and gas, by some miracle some other source of 'green' energy will instantly replace it - never mind that there is not the copper or other electrical and battery materials available to do so, let alone the manufacturing (highly energy intensive) capacity to do so. It amazes me, but there really are significant numbers of people who think that if you don't much like the liner on which you are cruising, all you need to do is scuttle it mid voyage and another ship more to your taste will miraculously materialise under your feet!

[hghotshot] 19/12/2023 14:10

RNS looks very good to me. DEC is part of the solution, not the problem.

[hghotshot] 19/12/2023 14:05

See DEC RNS

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) today is providing a response to the movement in its share price. On December 18, 2023, the Company received a request for information from four members of the minority party (52 member committee) of the United States House of Representatives Committee on Energy and Commerce regarding its well retirement and emissions information. The Company is reviewing the letter and intends to engage in a positive and open manner, as it has continuously done, by providing information regarding the Company's peer-leading environmental and operational actions that underpin its responsible asset stewardship approach.


One of the reasons cited for the information request was a 2021 media report that broadly speculated and inaccurately described numerous items, including how the Company addresses emissions and well retirement. Diversified has previously provided information on these topics and continues to transparently disclose all sustainability-related information, including emissions and well retirement, in its filings and annual sustainability reports. The Company has been awarded a Gold rating by the Oil & Gas Methane Partnership (OGMP) and Project Canary, two of the leading independent emissions monitoring programs for its measurement-driven approach across its asset footprint. The company has also dramatically reduced its reported Scope 1 emissions by more than 25% compared to 2020 and continues to deploy emissions best-in-class detection equipment and protocols, which includes completing emissions detection surveys on all its natural gas wells.


The Company has significantly expanded its well retirement segment, Next LVL Energy, allowing it to retire approximately 214 wells in 2022. Full modeling and accounting for the company's asset retirement obligations are audited by independent, global accounting firms and reserve engineers and transparently disclosed. In addition, Diversified has partnered with a number of states within its Appalachian footprint to retire state-owned orphan wells in a cost-efficient and environmentally sound manner.


As a Company that is part of the solution to a broader challenge of aging infrastructure that many industries face, including the energy industry, a core thesis of the unique and differentiating value we create is making the necessary time and monetary investments into the assets to improve their environmental and operating performance. The ownership and stewardship of mature assets allow us to be part of the solution, and Diversified and its employees are very proud to be doing our part for the energy industry in the United States. Working with other stakeholders, such as governments, the technology industry, and the energy industry, we will continue to drive positive changes and improvements to our assets, making Diversified the Right Company at the Right Time.

[bluemango] 19/12/2023 14:02

Good response from the company.

[justiceforthemany] 19/12/2023 14:01

First Berlin 3600p target....research note out today.

[ramellous] 19/12/2023 13:44

Showing $16.50 in the US pre market. That is £12.94 in proper money.

[asp5] 19/12/2023 13:33

1knocker, I really do not think that DEC will be viewed as a small UK company. All its employees (ie voters), all its assets (wells) as well as all its taxes paid are in the US and in states with strong republican representation.

Rebublicans will focus on their core vote & swing voters. There is not a cat in hells chance from my perspective that they would support democrats on this topic in election year. Republicans are not even supporting democrats with funding to help Ukraine defeat their enemy Russia!!

Over the next couple of years the US is dramatically increasing LNG export capacity (under the democrats watch) in order to meet worldwide gas demand. This will generate significant additional revenue to help the government which is in a fiscal mess at the moment.

If democrats were so serious about being green then they would have stopped new wells being drilled, prevented new exports and allowed gas prices to stay at the peak from 12 months ago. But if they had done that they would have already lost the election.

Just to note this is at present only a request for information. Virtue signalling to democrats core voters that they really do care about the environment.

I believe all members of the house of representatives are up for election in November 2024 anyway. They are all going to be busy trying to get re-elected. Nothing is going to get done between now and then except alot of noise generation for their particular electorate. Lets see where we are after the elections.

[elpirata] 19/12/2023 13:17

from ukinvestor mag

The Democrats are on the House Energy and Commerce Committee, but this is controlled by Republicans, so they have limited power. Even so, it is negative publicity for Diversified Energy Company and the timing of the letter was probably not an accident.