Diversified Energy Share Discussion Threads

[skinny] 17/7/2024 18:07

An update on post 2241 and if you squint - a burgeoning golden cross?


free stock charts from uk.advfn.com

[grahamg8] 17/7/2024 17:17

For comparison DEC said in June 2022 it cost $21,000 per well to plug. There is no separate figure for site remediation. Boettner testimony in March 2024 claimed it was $110,000.

[mindthestash] 17/7/2024 17:02

Apologies to This is me for doubting.
This indeed is starting to look good.
Could it be Trumps promise to 'drill baby drill' is having an effect now he's more likely to be President again.

[bountyhunter] 17/7/2024 17:01

Wow again! ..over $17 now in NY.
I'm only 2% down now and that's based on today's LSE close at 16:30 so I could actually be in the blue tomorrow, and that's not including all the divis I've received (which haven't been reinvested).

[kaos3] 17/7/2024 15:36

what i liked very much at the latest aquisition is 500 miles of gas pipelines. hard to replace or ever compete

[elpirata] 17/7/2024 15:26

more of an aside really, but having already subpoenaed Ted Boettner the author of that now discredited 'Empire of dying wells' report, DEC have further put the thumbscrews on & subpoenaed to appear in court under cross examination (instead of merely relying on their written report evidence), the McEvoys expert witness who's own website states

In 2021, an industry research group put the median cost for decommissioning a well in the U.S. at approximately $20,000 for plugging and $76,000 for plugging and surface reclamation. They further found that for each additional 1,000 feet of well depth, the cost increased by 20%

Unsurprisingly the claimants have objected to this & the judge is to determine if Plants & Goodwin are to appear in the witness box.

Onwards & upwards for DEC

[bountyhunter] 17/7/2024 13:17

Shorters in disarray, each to their own with one reducing by 0.11%, another adding by 0.11%, and a third with a small increase of 0.08%, all on the same day - Monday (15/7). Perhaps the first paid the second to take that 0.11% of their hands!

[farrugia] 17/7/2024 12:58

with a trump presidents DEC won't need to worry too much about the do-gooders

[nigelpm] 16/7/2024 20:57

Re rating we all expected in motion and with a large out of the money set of shorts that may need to buy back it's the perfect combination ?

[justiceforthemany] 16/7/2024 20:51

Surging in the States.
In a fair and regulated FTSE shorts would get burnt at 0800 tomorrow.

[bountyhunter] 16/7/2024 20:22

Up around 5% now in New York since 14:30 BST, an impressive rise.

[bountyhunter] 16/7/2024 19:36

With the yield at over 7% that would sound very impressive if we didn't know where it had been in the past. However the previous sky high yield was signifying an expected cut which we have had leaving a more realistically sustainable dividend going forwards. Now we just need a few more of those shorters to reduce/close their shorts, they can't be doing particularly well with the price progressively rising.

[yupawiese2010] 16/7/2024 19:24

Rusty talking to Directors Talk.

[bluemango] 16/7/2024 17:20

#2256 I see where you're coming from, but I still think it could be open to interpretation, i.e. 'fixed' could be in terms of 'reliable' or 'minimum expected'; I still don't see this necessarily as ruling out upwards movement in the dividend for 3 years, but instead just them trying to manage expectations.

I always read this as 'this is the minimum you should see for the next three years, because it's sustainable', in the context that the previous dividend clearly wasn't. And that they had the option to increase it if circumstances allowed it.

[aleman] 16/7/2024 17:02

UK volume since July 1st looks to be about 2.8m and US is about 3.5m, only including a couple of hours for today. So it looks like US is 30%+ higher volume than UK in July so far.

[gary1966] 16/7/2024 16:57

Excellent UT to cap off a good day.

[laurence llewelyn binliner] 16/7/2024 16:46

Shorts scrabbling to cover... :o)

[drk1] 16/7/2024 16:42

Anyone for a cup and handle (amidst a short attack to boot!)? ;-)

[gary1966] 16/7/2024 16:41

Bluemango,

You missed the word FIXED in the quote. Sustainable says it is up for review in three years time by which time it may no longer be sustainable, or as I and everyone else hopes is more than sustainable and can be increased.

mondex,

I know all that but I was expecting there to be a fair amount of cash before the dividend cut, let alone afterwards, to finance the replacement of production from cashflow.

bountyhunter,

You have a much better average than me, well done.

[gary1966] 16/7/2024 16:32

Long may it continue!!🤞

[bountyhunter] 16/7/2024 16:30

Wow, over $16 now in New York, I'm nearly back in the blue! ..and that's ignoring all the significant dividend payments I have received to date. :-)

[johnhemming] 16/7/2024 16:04

The part completed wells need to wait for USD4 gas price. The company has plenty of liquidity and can buy new wells in part from new equity to the sellers and in part from debt. No sense completing those wells today.

[this_is_me] 16/7/2024 15:51

This is definitely looking like a share price breakout. It is the first time for 18 months that it has been above the 200 day moving average and it is leaving the recent trading range behind.

[aleman] 16/7/2024 15:49

The company acquired part-completed wells with the previous acquisition and talked about completing and infill when the price was right. I'm guessing the acquisition of drilling capacity, even if only modest, could lead to new drilling where there is suitable distribution infrastructure, which could reduce overall decline rates modestly and increase the sustainablility of cashflows at the margin. It seems odd that someone would seem to want to rule this out when commercial sense suggests it will happen if and when prices rise enough to justify the commitment. It was not talked about previously but seems to be on the agenda now?


Closed at 1050p at end of H1. Now 1230p, helped by big US volume. That's +17% in next to no time. (Short squeeze?) I'm wondering what Americans investors will make of the big derivatves swings in H1 but a quick look sees spot and futures gas prices are about the same going in as coming out. We could actually have some results where derivatives could be broadly neutral? For once we might get an idea of the underlying picture. But that might depend on any profits or losses from trading derivatives.