Back to Newsroom
Back to Newsroom

Diversified Energy Announces Enlarged Credit Facility Borrowing Base

Wednesday, 08 December 2021 06:30 AM

Diversified Energy Company PLC

BIRMINGHAM, AL / ACCESSWIRE / December 8, 2021 / Diversified Energy Company PLC (LSE:DEC) ("Diversified" or the "Company"), is pleased to announce that the Company's bank lending group, led by KeyBank National Association (the "Bank Group"), completed its semi-annual redetermination of the Company's senior secured credit facility (the "Credit Facility"). The Bank Group approved an $825 million borrowing base, representing a $200 million or 32% increase related to higher commodity prices and the added collateral from the Company's previously announced acquisition of Tapstone Energy Holdings LLC.

Rusty Hutson, Jr., CEO of the Company commented,

"I would like to thank our bank group for their continued support of Diversified as an integral and responsible part of the energy transition solution. The more than 30% increase in the Credit Facility borrowing base affirms our banks' trust in Diversified's stewardship and confidence in our assets to generate strong free cash flow to support our business, repay our borrowings, fund our ESG initiatives for our stakeholders and sustain our dividends for investors."

The Company's next scheduled redetermination will occur during the second quarter of 2022.

For additional information, please contact:

Diversified Energy Company PLC
Jim Sheehan
+1 205 408 0909
www.dgoc.com
[email protected]

Buchanan
+44 20 7466 5000
Financial Public Relations
Ben Romney
Chris Judd
Jon Krinks
James Husband
[email protected]

About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

SOURCE: Diversified Energy Company PLC

Topic:
Company Update
Back to newsroom
Back to Newsroom

Contact Us Today


If you have questions or want to learn more about our products, our team’s here to help!

Share by: