Diversified Energy Share Discussion Threads

[aleman] 23/12/2023 11:47

The worst squealing in a shorting campaign happens not at the start but when they need to get their shorts closed before the price rises significantly again. Hopefully that is where we are now. Closing shorts over the holidays with low volume would be difficult, though.

[profitaker] 23/12/2023 09:57

Extract from the letter...

Diversified Energy’s rosy projections also appear to affect cost estimates for plugging wells. While Diversified Energy reports it costs approximately $21,000 on average to plug and cleanup its wells, researchers’ and regulators’ estimates vary widely based on myriad factors such as a well’s type, location, and state of repair. Reports indicate that Diversified Energy may employ an unusual method for estimating marginal wells’ remediation costs that may underestimate future liabilities. For instance, when Diversified Energy acquired wells from CNX Resources Corp. (CNX Resources) in 2018, CNX Resources estimated remediation would cost $197 million. Diversified Energy determined remediating the same wells would only cost $14 million. However, when examining approximately $12.6 million in plugging agreements between Next LVL Energy—a Diversified Energy subsidiary—and the West Virginia Department of Environmental Protection funded by federal grants and covering 100 orphan wells, researchers determined that Next LVL Energy’s average plugging cost could be as high as $126,000 per well. While orphaned wells can be more expensive to plug and clean up, this is a major cost discrepancy that casts doubt on Diversified Energy’s claims that it can remediate its wells at a lower cost than previous well owners had estimated.

Researchers examining Diversified Energy’s accounting practices found that agreements with states would allow the company to defer environmental liabilities that they estimated at more than $2 billion. Deferring and underestimating environmental liabilities would provide Diversified Energy the appearance of profitability on paper, which would allow your company to payout hundreds of millions of dollars to creditors and shareholders over the next decade without ensuring adequate funds to cover those liabilities.If this analysis is accurate, it is highly unlikely that Diversified Energy will have adequate funds to clean up all of its marginal wells when they should be retired.

[imnotspartacus] 23/12/2023 09:33

Nice finish in the states with a bullish harami on the daily.

[leoneobull] 23/12/2023 07:06

https://youtu.be/PrpmnAiLetk?feature=sharedVideo interview with Rusty Oct 23 talking about their retirement well company set up to develop capacity to retire wells in the appalachias. Many third parties use the specialist firm to retire their own wells in particular states. As others have commented, part of the solution...

[bountyhunter] 23/12/2023 00:26

Yes, that was an improvement earlier in the US after the London close, the ambulance chasers had zero effect, that was the day before.

[justiceforthemany] 22/12/2023 23:42

TT International Asset Management Ltd
= need to be investigated for insider dealing

[justiceforthemany] 22/12/2023 23:41

Closed UP 3.1% in the States
$14.5 USD

[tsmith2] 22/12/2023 23:40

ambulance chasers

[bountyhunter] 22/12/2023 22:27

You're quite right taffe! Have a look at their great reviews, probably no threat at all just scaremongering on behalf of the shorters!..



"Wolf Haldenstein Adler Freeman & Herz has a 1.2 star rating with 36 reviews."

and here

"They couldn't get easy money from grannies.."

[laurence llewelyn binliner] 22/12/2023 21:41

Bear raids are not a recent phenomenon but teaming up on the web (Reddit) and targeting a company is, sooner or later shorts need to be covered, we will recover..

[taffevans] 22/12/2023 21:11

See you all at 3,000.00p

[taffevans] 22/12/2023 21:10

Yep totally a nonsense story. Don't even know why we are talking about it lol

[leoneobull] 22/12/2023 21:01

The US is so litigious in a vexatious way. What about an alternative theory...shorts knew about the letter in advance so shorted using illegal info. On contrast, DEC announced their intention to list in the US some time ago as they are US based and wanted to bigger capital markets. However, as they raised no nee money and did not issue equity, this is a nonsense story.

[taffevans] 22/12/2023 20:06

If you Google that company you will find 25 out of their 27 google reviews are one star. Perhaps we should add a few lol

[marksp2011] 22/12/2023 19:46

GuysThis is standard for US stocks. There will be more of them. They will keep litigating. That's what happens in the US. It is never ending

[bountyhunter] 22/12/2023 19:40

I agree, clearly none of this is coincidental.

[renewed1] 22/12/2023 19:19

There has to be a very sophisticated and organised short campaign behind the timing of these releases. Surely the company must know the identity of the shorting party.

[elpirata] 22/12/2023 19:18

so they punted it out on prnewswire today touting for business

[bountyhunter] 22/12/2023 19:15

It says the 21st December here

[elpirata] 22/12/2023 19:13

bang on bountyhunter

NEWS PROVIDED BY

Wolf Haldenstein Adler Freeman & Herz LLP
22 Dec, 2023, 08:15 ET

[bountyhunter] 22/12/2023 19:12

Dated yesterday, the 21st December, so not new today.

In fact it's one of a number of 'news' articles on their website..



I can't see it going anywhere.

[bountyhunter] 22/12/2023 19:08

What is the date/time of that? It sounds like an ad for their services as published by themselves on their website!

[hghotshot] 22/12/2023 18:58

Just when we thought it couldn't get any worse.............