Diversified Energy Share Discussion Threads

[scrwal] 10/1/2024 21:49

In the OakBloke analysis he states that in the 2022 Annual Report DEC retired 214 wells for $4.889M an average of $22.8k per well and says it is lower still in H1 2023. I think this is in line with what DEC may be estimating.
However in the rebuttal letter for H1 2023 DEC states that 100 of its own wells were retired at an average cost of $25,000 claiming that the cost is lower because of doing the majority of the work in house which is true but that does not explain why they are stating a higher figure in the Congress letter than the one they use for the ARO calculation.
Furthermore OakBloke says there is capacity of 500 wells that can be plugged annually (correct per DECs own figures) which is way below the annual requirement stated in DECs ARO model so substantial plugging will be done by 3rd parties at much higher pricing than even the $25k quoted to Congress.

[bountyhunter] 10/1/2024 20:59

Closed @$15.06 in New York, up significantly since the LSE close..

[dustinthyme] 10/1/2024 20:49

This article covers today's rebuttal letter and compares the ARO of a number of DEC's peers:
hxxps://theoakbloke.substack.com/p/a-dec-of-top-trumps

[bountyhunter] 10/1/2024 20:11

Yes, and even better in NY now! Better late than never.

[pogue] 10/1/2024 19:34

Baffling day for DEC they give a comprehensive rebuttal of the spurious points made by the committee and the price goes down! Value will out eventually I hope.
Oakbloke's substack email arrived as I typed the above. He has waxed on regards the plugging costs and more importantly the number of plugged wells per annum and makes some very valid points that the reason DEC do not have anywhere near the number of plugged wells per year compared to other operators is they are using a different model ie manage decline whereas other gas companies are drill run down and find new assets but not manage the wells as that is costly to them. You can see why comparing plugging wells per annum between the two models is pointless.
Recommend subscribing, no I am not oakbloke I just like his analysis.

[captain stock] 10/1/2024 19:33

Almost a 25% Divi

[bountyhunter] 10/1/2024 19:20

Picking up in New York..

[justiceforthemany] 10/1/2024 17:57

Seemed like a comprehensive response yet Adage and Wall Eye short selling bankers dragged it down again.

[gary1966] 10/1/2024 17:18

IG are very good indeed. £24 per quarter charges but any dealing charges are offset. Dividend payments have become much more timely. Nice platform with good tools. Provide Direct Market Access which has saved me a lot. Never had to pay SD on DEC trades. That playing field appears to have been levelled out now with the NYSE listing. £8 per trade but do three in a month and the following month is £3. I believe US shares are commission free but fact check that.

[cutandpolished61] 10/1/2024 16:48

Halifax is ignoring my W8BEN used for ISA. 15% + 15% deducted. Has someone had a better experience with IG?

[drradcliffe] 10/1/2024 16:11

@bluemango not just Tennyson. Cavendish and Dowgate have similar targets for it.

[sbb1x] 10/1/2024 16:08

Some right games going on. Up and down like a yo yo. Perfect for traders

[fordtin] 10/1/2024 15:34

Looks like those recent large trades may have put an end to the NYSE v LSE arbitrage;

LSE = £11.32 v NYSE = £11.42.

[bluemango] 10/1/2024 13:44

Coincidentally, that's the target in new Tennyson note just out. 3000p new target.

They also state the December Committee enquiry 'has no merit whatsoever'

[taffevans] 10/1/2024 13:40

Wake me up at 3,000.00p

[bluemango] 10/1/2024 12:31

The December Letter references a 2021 Bloomberg article alleging that our wells “may be leaking a substantial amount of methane.” This statement is not accurate and was based on a misinterpretation of reports related to 44 well site visits, which represent less than a fraction of a percent of our wells across Appalachia. As noted above, we have voluntarily conducted 246,000 emission detection surveys on our well sites and those surveys have determined that our current company-wide fugitive emission free rate in 2023 for our natural gas and oil wells is 97.75%, meaning that nearly all of our sites had no unintended emissions at the time of the survey. These positive results are a reflection of our proactive, stewardship business model. As a result of our expansive emission detection survey program, our use of industry-leading detection technologies and our operating practices focused on continually mitigating unintended emissions, the data is clear that the Bloomberg article does not accurately reflect true emissions performance from our asset.

[bluemango] 10/1/2024 12:15

RNS out. Response to the Committee.



"hTTps://www.rns-pdf.londonstockexchange.com/rns/1838Z_1-2024-1-10.pdf"

[garycook] 10/1/2024 07:38

bluemango, Correct good memory. I think you are right. Something to do with the HL system I was told by a Oliver Nevin. HL have not yet replied to my secure message of 02/01/2024,and again yesterday.

[huckers] 10/1/2024 07:37

I also hold DEC within an HL SIPP. 0% tax with a W8BEN. And 15% tax in the ISA or outside an ISA.

[sr999] 10/1/2024 06:39

Mine is in an ISA and has 15% deducted. I filled out a W8BEN form otherwise I would have had 30% deducted.I still find it strange as the shares I own are listed on LSE.

[bluemango] 10/1/2024 00:20

Mine's in a HL SIPP and they correctly deduct zero tax, so all ok. From memory, aren't you a non UK resident Gary? Not sure on the rules in that situation but if so, it might have something to do with how they're treating it in your case.

[garycook] 09/1/2024 23:56

Any DEC investor have a HL SIPP.I am being stopped 30% WHT, but after complaining I am getting it refunded Ex-Gratia payment into my SIPP account. This as happened the last 5 Quarters. Does anyone holding DEC in a HL SIPP have the same problem ?

[leoneobull] 09/1/2024 22:01

Henry Hub looking good on futures https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.html#venue=globex

[sbb1x] 09/1/2024 19:49

Gas up 8.4 percent