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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 reports record FY average daily production

By Iain Gilbert

Date: Wednesday 27 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Diversified Gas and Oil said on Wednesday that it had registered a record full-year average daily production of around 100.0m barrels of oil per day in 2020, up 18% year-on-year.
DGOC stated its success amid the Covid-19 pandemic was underpinned by its consistent and diligent smarter asset management programme and the successful acquisition and integration of accretive upstream and midstream assets.

Full-year average daily production from legacy assets of approximately 69.0m boepd was consistent with 2019.

The AIM-listed group added that full-year cash operating expenses of $5.58 per barrel of oil were 15% lower year-on-year, while full-year total cash expenses of $6.93 boe marked a 10% improvement year-on-year.

Chief executive Rusty Hutson Jr 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 our successes last year, we are positioned to enter 2021 with momentum including our most recent fourth-quarter complementary bolt-on acquisition of unconventional assets. 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."

As of 1015 GMT, DGOC shares were down 0.70% at 113.40p.

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

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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