April 25, 2024
Finance

How Diversified Energy blazed a trail for energy companies


Diversified Energy (DEC) is attempting new approaches to the production of natural gas by buying existing wells and updating them for improved production, rather than drilling new ones. The company recently began trading on the New York Stock Exchange in December, but has been trading on the London Stock Exchange since 2017.

Diversified Energy CEO and Co-Founder and CEO Rusty Hutson Jr. joins Yahoo Finance from the floor of the New York Stock Exchange to explain why the company’s business model has a multitude of advantages versus its competition and their strategy for being dual listed on those exchanges.

Hutson explains: “Back at that point in time, the company was smaller, we accessed capital through the London Stock Exchange, through AIM. $50 million IPO. But really what it allowed us to do over the last seven years was access a pool of capital that wouldn’t have been available to us because of the size of the company here in the US and so we were able to access capital that helped us to grow the company substantially over that period of time that now allowed us to dual list here on the New York Stock Exchange back in December.”

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor’s note: This article was written by Nicholas Jacobino.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *