You are here

Prices & Quotes - UK Markets - Diversified Energy Company (DEC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 123.60p
Change Today:
2.80p
Market Cap:
874.72m
Sector:
Gas, Water & Multiutilities

Diversified Gas & Oil results in line on record production

By Sean Farrell

Date: Wednesday 27 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Diversified Gas & Oil said 2020 results were in line with expectations after the company achieved record production and cut costs.


Annual production rose 18% to an average of 100 thousand barrels of oil equivalents a day (Mboepd) in the year to the end of December from a year earlier. Operating cash costs fell 15% to $5.58 per barrel of oil equivalent.

Daily production from legacy assets dipped to about 69 Mboepd from 70 Mboepd as better management helped offset natural declines.

The FTSE 250 company said it had cash flow and dividend stability with about 90% of 2021 natural gas hedged at a weighted average floor price of $2.66 per million British thermal units.

DGO said a better outlook for gas prices was helpful as it adds extra hedge protection for future years.

The company said President Biden's order to ban new drilling on federal lands would have little impact because less than 1% of its acreage is on federal property and the order does not affect existing properties. No development on federal lands could increase commodity prices, DGO added.

Rusty Hutson, DGO's chief executive, said: "The unprecedented events of 2020 have underscored the inherent resilience of our business model. We've built our business to operate in any natural gas price environment and the strength of that model was evident throughout the significant volatility of 2020.

"With a strong balance sheet, efficient cost structure, improved commodity price outlook, strong hedge protection and a robust outlook of potential accretive growth, we are poised for another exceptional year."









Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

DEC Market Data

Currency UK Pounds
Price 123.60p
Change Today 2.80p
52 Week High 131.00p
52 Week Low 93.80p
Volume 1,680,508
Shares Issued 707.70m
Market Cap 874.72m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
Not Available
Price Trend
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Income
Not Available
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
P/E
Not Available
PEG
Not Available
Dividend Yield
Not Available
EPS Growth
Not Available
Operating Margin
Not Available

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DEC Dividends

  Latest Previous
  Q1 Q4
Ex-Div 02-Sep-21 27-May-21
Paid 24-Sep-21 24-Jun-21
Amount 4.00¢ 4.00¢

Trades for 07-May-2021

Time Volume / Share Price
16:36 53,763 @ 123.60p
16:35 4,319 @ 123.60p
16:35 2,126 @ 123.60p
16:35 609 @ 123.60p
16:35 301,228 @ 123.60p

DEC Key Personnel

CEO Robert Hutson