Diversified Energy slips on $108 mln secondary offering

Diversified Energy Co

10/03/2026 12:16

** Oil and gas producer Diversified Energy DEC.N shares down 2.7% at $14.33 before the bell after pricing ~$108.4 mln overnight secondary offering

** Birmingham, Alabama-based firm late Mon said EIG Energy offloaded ~7.5 mln shares at $14.45, a 1.9% discount to last sale

** Sale represents EIG's remaining holdings; DEC has ~76.1 mln shares outstanding, per the prospectus

** EIG received the shares last year as consideration for DEC's acquisition of Maverick Natural Resources

** DEC, which operates in the Appalachian Basin and the Central Regions in the US, buying back 3.75 mln shares sold in offering

** Citigroup sole bookrunner

** Through Mon, DEC shares up 1.7% YTD and ~30% over the past 12 months

** 6 of 7 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $20.50, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))