Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) told investors it was unaware of any operational or specific reason for its recent share price fall and confirmed that third-quarter production was in line with expectations.
The America-focused oil producer said that “given current equity market dynamics” it is longer pursuing a stock market listing in the United States.
Production for DEC’s third quarter is anticipated in the range of 134,000 and 138,000 barrels of oil equivalent per day which, as the company noted, is a lower rate than prior periods reflecting the recent sale of our non-operated assets.
DEC added that it will continue to execute its share buy-back programme.
In London, DEC shares were up 2.3% trading at 68.69p each – though remain 15% lower over the past five trading days, following its fall from around 81p at the start of this week.