BUZZ-Diversified Energy dips on stock offering plan
ReutersFeb 19, 2025 1:01 PM
Oil and gas firm Diversified Energy's DEC.N shares fall 2.4% to $16.33 in premarket trading
Birmingham, Alabama-based DEC announces stock offering in the United States of up to 8.5 million shares
DEC plans to use the proceeds to repay a portion of debt expected to be incurred by the firm in connection with its $1.28 billion acquisition of U.S. oil and gas producer Maverick Natural Resources
Citigroup and Mizuho are the joint book-running managers for the offering
DEC focuses on producing natural gas and liquids from the Appalachia basin and Central Basin
Co has ~51.3 million outstanding shares, according to the offering prospectus, giving it a $846.4 million market cap
DEC stock rose 12% in 2024
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