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Please see SP Angel’s Oil Market outlook for 2021: https://youtu.be/T222JHGzokI Further strong results from the supermajors sees Shell report strong growth in adjusted earnings for the first quarter and lifted its dividend by 4% Shell reported adjusted earnings of US$3.23bn for 1Q21 and increase from the US$393m earnings for 4Q20, and a rise from the 1Q20 earnings of $2.86bn The expected and previously announced dividend increase is the second small dividend hike at Shell, which this time last year had slashed its dividend for the first time since WWII to preserve cash and value in a highly uncertain macroeconomic environment in the pandemic. ....
BIRMINGHAM, AL / ACCESSWIRE / April 30, 2021 / London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ("DGO" or "the Company"), announces the $135 million (gross) conditional acquisition of certain Cotton ....
Diversified Gas & Oil PLC (LSE: DGOC) announces the $135 million (gross) conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana ( the Assets ) from Indigo Minerals LLC ( Indigo ), (the Acquisition ) and the following operations and trading update for the quarter ended 31 March 2021.
The Acquisition represents the first for the Company in its newly identified Central Regional Focus Area ( RFA ) where it expects to replicate its proven business model on an expanded opportunity set: • Acquisition Highlights ◦ ~2.9x multiple on ~$40MM of Adjusted EBITDA (Hedged) (a) before anticipated synergies (b) ◦ PV10 ~$175MM as of 1 March 2021 effective date and based on 16 April 2021 NYMEX strip price ....
DGOC said it sees a significant opportunity to grow scale through complementary bolt-on and/or larger deals. Chief executive Rusty Hutson, in a statement, told investors that the expansion provides significant runway for DGOC to replicate its success in Appalachia – allowing the opportunity to consolidate projects to reduce unit expenses, improve margins and optimise production. He highlighted that DGOC is positioned as a “buyer of choice” in current market conditions. This first strategic acquisition outside of Appalachia also reflects our continued commitment to a consistent asset profile and valuation while affording us expanded value-accretive roll-up opportunities in this new region that will enable us to quickly build scale and drive efficiencies,” he said. ....
Diversified Gas & Oil PLC Announces Conditional Acquisition in New Regional Focus Area and Trading Update BIRMINGHAM, AL / ACCESSWIRE / April 30, 2021 / London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ( DGO or the Company ), announces the $135 million (gross) conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana ( the Assets ) from Indigo Minerals LLC ( Indigo ), (the Acquisition ) and the following operations and trading update for the quarter ended March 31, 2021. The Acquisition represents the first for the Company in its newly identified Central Regional Focus Area ( RFA ) where it expects to replicate its proven business model on an expanded opportunity set: ....