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Diversified Energy: 'Goal is to develop scale that puts us up in $2-3 billion market range'

Diversified Energy (LON:DEC) CEO Rusty Hutson talks to Proactive London about expanding their footprint in its new growth area with a deal to acquire assets in the states of Louisiana and Texas.

It is acquiring a package of 390 wells currently producing 14,000 barrels oil equivalent per day (boepd), of which 96% is natural gas, alongside co-investor Oaktree Capital Management.

Hutson explains how these various acquisitions complement each other and details the operating efficiencies and synergies. Diversified is focussed on natural gas which he says has an important role in the energy transition.

He says, 'my goal is to develop size and scale that puts us up in 2-3bln market range, with possible dual listing'.

Quick facts: Diversified Energy Company PLC

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Price: 113.2 GBX

Market Cap: £961.75 m

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Diversified Energy close first half with acquisitions of three asset...

Diversified Energy (LON:DEC) CEO Rusty Hutson joins Proactive London's Katie Pilbeam to go through some of the key themes from their first half of 2021. Hutson also explains the pre-tax loss as a result of non-cash impairment caused by their hedging positions, a common occurrence for all...

on 12/8/21

2 min read