Updates

Diversified Gas & Oil

March 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in the acquisitive gas focused US group have inched to new highs after it announced record full year average daily production of c. 100,000 barrels oil equivalent per day (boepd), up 18% on FY’19. Year-end production hit a new high of 105,000 boepd. Growth was boosted by first time contributions from Carbon Energy and EQT while Investec notes its 10 consecutive quarters of consistent production, demonstrating the effectiveness of its asset rejuvenation program. Diversified repaid US$82m debt, reducing net borrowings to c. US$725m (net debt / EBITDA: 2.2x) while it has locked in 90% FY’21 cash flows by hedging natural gas at a weighted floor price of US$2.66 / MMBTU. Investec expects EBI ...

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Diversified Gas & Oil (October 2020)

Diversified Gas & Oil (July 2020)

Diversified Gas & Oil - Moving to the Full List (June 2020)

Diversified Gas & Oil (January 2020)

Diversified Gas & Oil (October 2019)

Diversified Gas & Oil - 475% jump in EBITDA underpins double digit yield (September 2019)

Diversified Gas & Oil - Highly acquisitive gas producer lining up promotion to FTSE-250 in H2 (July 2019)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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