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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Diversified Energy Company Plc | LSE:DEC | London | Ordinary Share | GB00BQHP5P93 | ORD 20P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 37.00 | 3.13% | 1,220.00 | 1,351,637 | 16:35:09 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1,232.00 | 1,234.00 | 1,241.00 | 1,162.00 | 1,177.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | USD 868.26M | USD 758.02M | USD 14.7774 | 0.84 | 606.83M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:50:08 | O | 211,529 | 1,220.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 16/12/2024 | 07:00 | UK RNS | Diversified Energy Company PLC Q2 2024 Dividend Exchange Rate |
| 05/12/2024 | 17:30 | UK RNS | Diversified Energy Company PLC Holding(s) in Company |
| 04/12/2024 | 18:15 | ALNC |  TOP NEWS: Retail pair and under-pressure Vistry booted out of FTSE 100 |
| 29/11/2024 | 07:00 | UK RNS | Diversified Energy Company PLC Total Voting Rights |
| 27/11/2024 | 09:49 | ALNC | TOP NEWS: Vistry set for FTSE 100 exit after profit warnings |
| 19/11/2024 | 07:00 | UK RNS | Diversified Energy Company PLC Diversified Announces Upcoming Investor.. |
| 12/11/2024 | 14:37 | ALNC | Diversified Energy sees production rise following acquisition |
| 12/11/2024 | 07:01 | UK RNS | Diversified Energy Company PLC Third Quarter 2024 Trading Statement |
| 12/11/2024 | 07:00 | UK RNS | Diversified Energy Company PLC Third Quarter Dividend Announcement |
| 06/11/2024 | 17:30 | UK RNS | Diversified Energy Company PLC Holding(s) in Company |
Diversified Energy (DEC) Share Charts1 Year Diversified Energy Chart |
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1 Month Diversified Energy Chart |
Intraday Diversified Energy Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 21/12/2024 | 09:35 | DEC - LSE & NYSE | 4,816 |
| 19/12/2024 | 15:56 | Diversified Energy Company PLC - High Dividend Yield | 8,337 |
| 12/10/2024 | 15:19 | DEC: LSE/NYSE (Moderated) | 21 |
| 10/6/2024 | 19:03 | Diversified Energy Company | 249 |
| 14/12/2023 | 16:01 | The Paul Kavanagh Appreciation Society | 42 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 22/12/2024 08:20 by Diversified Energy Daily Update Diversified Energy Company Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker DEC. The last closing price for Diversified Energy was 1,183p.Diversified Energy currently has 51,295,645 shares in issue. The market capitalisation of Diversified Energy is £632,988,259. Diversified Energy has a price to earnings ratio (PE ratio) of 0.84. This morning DEC shares opened at 1,177p |
Posted at 19/12/2024 15:56 by this_is_me From Money Week:Diversified Energy acquires existing long-life, low-decline producing wells and then tries to improve or restore production. It hit a rough patch with some “well leaks and accounting tricks”, as my friend Charlie Morris of ByteTree puts it, which got the company into trouble and resulted in a 70% decline in the share price. But now those problems are behind it, it should face fewer permitting obstacles under the new US administration. It is cheap for what it is: the market value is around $830m. High-cost producers can be good plays on rising commodity prices. As the price of the underlying commodity rises, they suddenly become profitable. Company X produces a commodity at £100/ unit. Company Y produces it at £200/unit. The commodity’s price jumps from £210 to £220. Company X’s profits do not even rise 10%. Company Y’s double. On the other hand, if the commodity falls to £190, company Y is in deep trouble |
Posted at 03/12/2024 19:37 by putinaire Not my fault the dodgy DEC is an share price of a dodgy AIM company'I shall oversee the inevitable' |
Posted at 03/12/2024 16:54 by putinaire Well, can give DEC this much. Certainly maxed share price before the change , plus NG position |
Posted at 03/12/2024 13:37 by kaos3 i like the dec strenght. despite ng falling like a rock - dec is stable. also my speculation that at 1300p is a good entry point for a fresh short did not materialize.hence dec is being very robust and strong - not falling with the ng, but when ng rises again - it will give des share price another decent push to the up. if there is no major market problems - dec up momentum is very strong and will continue to rise after this consolidation level. imho |
Posted at 01/12/2024 20:03 by putinaire There are many more people who simply seem cluelessSo, DEC share price is now wayyy above all 7 standard EPS' forwards, wayyyy above projected cashflows in chart terms, wayyyy above all growth forwards. They certainly knew how to throw an share price party. But it is now only the dim, holding for more.... In fact, just looking now. EPS's, growth and cashflows all revised down |
Posted at 29/11/2024 12:31 by putinaire Where was i anyway? oh yes1275 mid short in any DEC price at GAS 3.08 Gas screwed. Didnt even bother looking at the spot price. Some ETF/ETC shifts have been notable so no need look. |
Posted at 28/11/2024 10:50 by putinaire Shorters reduced bill to circa 5% holding. Bill around 4% or whatever.They get to short high prices and only need -4% on share price to be breakeven. But if shorting today? A 4% share price drop is profit straight away (on todays price, not agg. All this up high where even a big natural retrace should occur And they now have gas market in favour anyway Trust me dude - they had it all figured out weeks ago. Hell, they probably induced 75% of the rise. Not matter to them though It's just maths to them. Nothing more |
Posted at 20/11/2024 19:46 by 2wild At least the average is a fair bit higher than current share price. Nice fat juicy yield paid every three months. Low price earnings multiple and lots of free cash flow. Rising share price, closing today 53% higher than the 12 month low . Let the trend be your friend. |
Posted at 20/11/2024 18:36 by putinaire Fitch Places Diversified ABS Phase II LLC's Notes on Rating Watch NegativeFri 01 Nov, 2024 - 16:47 ET Fitch Ratings - New York - 01 Nov 2024: Fitch Ratings has placed Diversified ABS Phase II LLC's class A notes on Rating Watch Negative. Transaction Summary Diversified Energy Company (DEC), through its wholly owned subsidiary Diversified Production LLC, conveyed a 29.4% non-operating working interest in approximately 50,000 wellbores in the Appalachian basin to Diversified ABS Phase II LLC. The notes are backed by oil and gas proved, developed and producing (PDP) assets with a current IE full-life PV-10 value of approximately $200.5 million (transaction life PV-10 value of $165.3 million). The current valuation is based on strip pricing for oil and gas as of Oct. 17, 2024. Fitch's rating addresses the likelihood of timely payment of interest and ultimate payment of principal by the legal final maturity in 2037 for the notes. The Negative Watch reflects Fitch's forward-looking analysis, which considers certain expenses, current projected hedge structure, and structural aspects of the transaction. The issuer has been subsidizing a portion of marketing and gathering costs to support ongoing cashflows (DEC owns a substantial portion of midstream assets servicing the ABS wells). Fitch's forward-looking analysis does not credit this in its scenarios. Fully loaded expense and negative movements in gas differentials affect the transaction's potential cash flows. The primary factor negatively impacting future transaction cash flows is the low strike price on the current hedges. The issuer is exploring a restructuring of the hedge profile to significantly strengthen the future cashflows supporting the transaction. Fitch will monitor the execution of this strategy and other factors over the next three to six months to determine if further action is necessary. KEY RATING DRIVERS PDP Production In Line with GC1 (Positive): Fitch considers PDP assets to be very stable and views PDP production as consistent with a 'GC1' and rating levels up to the 'A' category. In this transaction, the underlying collateral is a slice of a diversified portfolio of approximately 50,000 wells, with the majority of production coming from about 20% of the wells. The wells have a weighted average life/seasoning of over 17 years. The decline profile has historically been stable, and Fitch expects it to remain so over the transaction's life. Limited Future Generation Risk (Positive): Future cash flows are expected to continue with limited disruption in the event of an operator bankruptcy. Therefore, Fitch has not directly linked the transaction rating to the credit quality of DEC. However, exposure to operational risks in PDP transactions limits the notes' rating to the 'A' category. Base Case and Stressed Case Production Levels (Neutral): Fitch's base case production levels are derived from third-party independent engineer (IE) reports, which determine reserve estimates and production levels based on the existing PDP reserves and historical performance. Fitch's base case aligns with IE projections due to the historical stability of production, the diversified portfolio, and the average life of the wells. Fitch applied various stresses to the IE production levels, including a two-year shock off Fitch's base case with a 10% reduction during the stress period. Additionally, Fitch ran a flat breakeven production stress of 8.5% in its base case to simulate potential future volatility and overall volumetric risk. Fitch also modeled a prolonged stress scenario with a 1.5% production stress for the transaction's remaining life. Majority of Price Risk Hedged (Positive): The transaction mitigates most price risk through hedges covering approximately 80% of gas production until February 2032 and 85% of oil production until March 2026. Additionally, basis risk for natural gas is hedged for 75%-90% of projected gas production until December 2026. However, the current hedge book's strike prices are lower than current strip pricing, limiting the transaction's future cash flows. Furthermore, the basis differential environment has worsened since closing, reducing revenues per unit of production. Fitch stresses the unhedged portion of the portfolio per its "Future Flow Securitization Criteria." In Fitch's base case, Fitch uses the latest Fitch Corporate Price Deck, applying $64 for WTI and $3.00 for Henry Hub after half-cycle. For a two-year shock scenario, Fitch uses $35 for WTI and $1.80 for Henry Hub during the stress period. In a prolonged stress scenario, Fitch applies $55 for WTI and $2.67 for Henry Hub. Hedges mitigate some commodity price risk, but unhedged exposure and the rolling nature of hedges limit the transaction to the 'BBB' category. Net Cash Flows Subject to Operating Expenses (Negative): The securitized revenue stream relies on net cash flows (NCFs) from each well, which depend on production levels and wellhead prices minus all expenses, including gathering and transportation (G&T). While individual wells may face some cost volatility, overall portfolio costs remain stable. DEC currently partially subsidizes G&T expenses, as permitted under the documentation. Fitch does not credit this subsidy in future expense projections, and is using approximate market rates instead. Fitch stressed market rate expenses by 3% in Fitch's base case, and 10% during the stress period in the two-year shock scenario. Fitch also stressed expenses 4% in a prolonged stress scenario. Leverage and Coverage Levels (Negative): Fitch uses the loan life coverage ratio (LLCR) to to assess coverage adequacy in different scenarios. Based on IE projections, the LLCR for class A notes is 1.96x. In Fitch's base case, the LLCR is 1.41x, and in the two-year shock scenario it is 1.18x. If considering the current subsidy supporting G&T expenses, the LLCR would be 2.79x, 2.27x and 2.03x in these scenarios, respectively. DSCR levels are expected to breach triggers in both the IE and Fitch base cases as principal amortizations step up over the transaction's remaining life. This step-up in amortization occurred at the five-year anniversary of the notes and was due to an assumption in the initial projections that uneconomic wells would be shut-in after the initial five years. DEC has continued to keep in operation the overwhelming majority of its wells, which results in higher fixed costs compared to initial projections. While the issuer has been reducing these higher projected expenses by covering G&T, Fitch does not include this reduction in its projected cashflows. More impactful to projected cashflows is the remaining hedge book, which has prices significantly below strip prices. Differentials have also become more negative within this region since the transaction's close. Fitch's base case full-life LTV for the class A notes is 78.2% (91.9% using transaction life PV-10). Financial Structure (Positive): The transaction benefits from significant structural protections like backward-looking cash sweep mechanisms based on DSCR and production tracking levels. An LTV trigger offers a forward-looking view of overall leverage relative to expected value. Cash-sweep triggers allow accelerated de-levering if performance falls short of IE base case expectations, though they are not currently active due to subsidized midstream expenses. Additionally, the transaction benefits from a six-month liquidity reserve account to cover monthly interest payments and senior expenses. Counterparty Risks (Neutral): Fitch analyzed the transaction's counterparty risk per its "Structured Finance and Covered Bonds Counterparty Rating Criteria." Eligibility thresholds are outlined as investment grade, aligning with Fitch's criteria for the 'BBB' category level. Fitch assessed payment disruption and co-mingling risk, finding the six-month reserve account sufficient to mitigate these risks. The swap counterparty and ISDA agreement were reviewed, and Fitch will evaluate if the downgrade of a swap counterparty below the transaction rating impacts the notes' rating. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade The transaction's credit strength depends on asset production levels and expense fluctuations, which can reduce the securitized net cash flow. Significant decreases in production compared to projections will negatively impact the rating. Increases in expenses or the removal of DEC's current subsidy for G&T may affect margins and the rating. While the transaction hedges the majority of natural gas price risk and natural gas basis price risk for portions of time during the life of the transaction, significant changes in basis or long-term commodity price reductions could have a negative impact. Revenue constraints given the current hedge book, combined with negative production or expense changes, may also affect the transaction's ability to absorb stress in a downside scenario. Additionally, the transaction cannot be de-linked from the hedge counterparties; thus, a downgrade of a hedge counterparty below the respective threshold of the note's rating will affect the transaction rating. Fitch ran multiple stress scenarios changing different variables, with a majority resulting in at least one category downgrade without amending the current hedge book. If the company can execute on its expected hedge strategy, these scenarios would result in a reaffirmation of the rating. Any changes in these variables will be analyzed in a rating committee to assess the possible impact on the transaction rating. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade The class A notes are capped in line with the criteria and further limited to the 'BBB' category, given partial exposure to commodity prices. The transaction will continue to be capped unless there are changes to the current criteria. |
Posted at 20/11/2024 09:08 by someuwin Tennyson...Diversified Energy (BUY) COAL MINE METHANE TRUMPS EARNINGS "Diversified Energy (DEC LN) reported Q3 numbers last week, which were in-line with expectations and showed continued progress on its core business objectives. Adjusting our FY24-25 estimates for the results & latest gas prices delivers some minor tweaks (see Figure 1, below), but the general earnings picture is much as before. Our investment thesis on the stock continues to be underpinned by DEC’s stable FCF base which fuels ~US$1bn of organic debt reduction over the next five years, after paying dividends. On top of this, we see scope to unlock hidden value across the portfolio through undeveloped land sales and other initiatives, such as environmental credits linked to coal mine methane (CMM). Additionally, heighted M&A across the US oil & gas patch should see a steady stream of PDP assets hit the market, as sellers look to shed non-core acreage and reset their finances, leaving no doubt over DEC’s growth runway. We reiterate our BUY recommendation and £20/shr target price..." |
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