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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) ....

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