Diversified Energy

One of the speakers at the recent Hart Energy DUG Appalachia event in Pittsburgh was Douglas Kris, senior vice president of Diversified Energy. For years, we have highlighted Diversified’s “contrarian” business model (see our Diversified stories here). Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica as well as other regions, owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing (older) wells on the cheap, find ways to make them more productive and keep them for decades to come. Kris further explained the company’s model and philosophy at DUG…
Read More “DUG Appalachia: Diversified Buys, Optimizes, Holds for Long-Term”

Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (and other regions, too), owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. For years, we have highlighted Diversified’s “contrarian” business model (see our Diversified stories here). Recently, oil and gas expert David Blackmon (who writes for the Forbes website) interviewed Diversified CEO Rusty Hutson, who had some interesting comments about the Appalachian region.
Read More “Diversified CEO Says Gulf Coast has Brighter Future than Appalachia”

Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (and other regions, too), owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. The company issued its latest update, for the first half of 2023, last Friday. Paul Gough, from the Pittsburgh Business Times, listened to the conference call and combed through the update. He hit on a key piece of news: Diversified has accelerated its program to plug old wells (its own wells in addition to orphaned wells) this year. In fact, the company has already (as of June 30) plugged 174 wells for the first half of the year. That number includes 87 of Diversified’s own wells.
Read More “Diversified Picks Up Pace Plugging Old Wells – 174 So Far in 2023”

Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (and other regions too), owns approximately 8 million acres of leases with close to 70,000 (mostly) conventional oil and gas wells. The company has been adding shale wells to the mix too. By our estimate, the company owns at least 400 shale wells. Last week, Diversified announced it is adding Kathryn (Katie) Klaber as a non-executive director to its board of directors. SMART move!
Read More “Diversified Energy Adds Marcellus Expert to Board of Directors”

Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (other regions too), owns approximately 8 million acres of leases with close to 70,000 (mostly) conventional oil and gas wells. Diversified has aggressively moved to control methane emissions from its operations over the past year (see Diversified Uses Handheld Devices to Detect, Eliminate Methane Leaks, Diversified Investing $9M for Aerial Scans to Detect Methane Leaks, and Diversified Energy Deploys Innovative Methane Measurement Equipment). It’s time to pay attention to the “other” so-called greenhouse gas, carbon dioxide. Diversified is partnering with Iconic Air to automate, benchmark, and manage carbon emissions from its operations.
Read More “Diversified Energy Using Iconic Air Software to Track & Lower CO2”

Now we know why Diversified Energy liked Traitor Joe Manchin’s sell-out Green New Deal law, also falsely referred to as the Inflation Reduction Act (see Some M-U Companies Like Manchin-Schumer High Methane Tax). It seems tucked into the bill is a taxpayer-funded giveaway of $700,000,000.00 (yes, $700 million) to be used for plugging old conventional oil and gas wells. It just so happens Diversified has built a new subsidiary, called Next LVL Energy, to do just that (see Diversified Energy Buys 3rd Well Plugging Co. – WV’s ConServ).

NOTE: Please see an update and clarification immediately below.
Read More “Diversified to Tap into $700M from Manchin’s High Inflation Law”