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Despite challenges, oil and natural gas industry advocates see opportunities

Despite challenges, oil and natural gas industry advocates see opportunities
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Despite challenges, oil and natural gas industry advocates see opportunities

Investegate |Diversified Gas &Oil Announcements | Diversified Gas &Oil: Final Results for the Year Ended 31 December 2020

Final Results for the Year Ended 31 December 2020 Diversified Gas & Oil PLC (LSE: DGOC) is pleased to announce its annual results for the full-year ended 31 December 2020. Key Highlights ◦ Exceptionally low corporate annual decline rate of ~7% including both conventional and unconventional wells ◦ DGO stands as the largest independent producer on the London Stock Exchange ( LSE ) • Hedged Adjusted EBITDA 1 of $301 million (up 10% over $273 million in 2019) bolstered by hedge cash settlements of $145 million that significantly offset low natural gas prices ◦ Indicative of the improved natural gas pricing outlook that creates a non-cash pre-tax mark-to-market hedge valuation loss of $239 million, the Group reported a net loss of $23 million in 2020 (2019: $99 million net income inclusive of a pre-tax non-cash mark-to-market hedge valuation gain of $20 million)

Diversified Gas & Oil PLC Announces 2020 Full Year Results

Diversified Gas & Oil PLC Announces 2020 Full Year Results
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