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Diversified Energy raises $225m in discounted equity offering | 21 May 2021

Diversified Energy raises $225m in discounted equity offering | 21 May 2021
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Investegate |Diversified Energy Announcements | Diversified Energy: Acquisition, Proposed Placing and Retail Offer

  THIS ANNOUNCEMENT (INCLUDING APPENDIX 1) AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED, FOR INFORMATION PURPOSES ONLY AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, AND DO NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE, DISTRIBUTION, OFFER OR SALE WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO. 596/2014 ON MARKET ABUSE ( UK MAR ), AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AND REGULATION (EU) NO. 596/2014 ON MARKET ABUSE ( EU MAR ).

US: Diversified Energy completes Cotton Valley asset acquisition

US: Diversified Energy completes Cotton Valley asset acquisition 19 May 2021 Diversified Energy has confirmed that, further to the announcement made by the Company on 30 April 2021, it has completed the purchase of certain Cotton Valley upstream assets and related infrastructure from Indigo Minerals. Gross consideration paid of $135 million (before customary purchase price adjustments) Annualised 4Q20 Adjusted EBITDA of approx. $40MM PDP reserves of ~50 MMBoe (305 Bcfe) with pretax PV10 of ~$175MM based on 16 April 2021 NYMEX strip Current production of ~16 MBoepd (~95 MMcfepd) includes ~780 net operated wells Retention of key field personnel to streamline integration and Smarter Asset Management initiatives Initial hedge positions cover approx. 80% and 50% of remaining CY2021 and full-year CY2022 production, respectively, from the Acquisition assets

Oil price, DGOC, JOG, Jadestone, President, Hurricane And finally…

Oil price, DGOC, JOG, Jadestone, President, Hurricane. And finally… DGO has announced the $135 million conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana from Indigo Minerals, and also an operations and trading update for the quarter ended 31 March 2021. WTI $65.01 +$1.15, Brent $68.56 +$1.29, Diff -$3.55 +14c, NG $2.91 -5c, UKNG (June) 59.26p +3.76p Oil price Another good day for oil as the month comes to a close even if it is a touch lower today. The reason is that economic data from the US continues to pile on and with 1Q GDP of 6.4% and yesterday’s jobless claims falling by 13/- to 553/- markets, certainly over there were very positive.

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