Diversified Energy shareholders launch secondary offering of 5.7 million shares

Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) announced that certain institutional shareholders will sell 5,713,353 ordinary shares in an underwritten public offering in the United States.

The selling shareholders include funds managed by an affiliate of EIG, an entity managed by FS/EIG Advisor, LLC, and entities managed by FS/KKR Advisor, LLC. They have granted underwriters a 30-day option to purchase up to an additional 857,002 shares at the public offering price, less underwriting discounts.

The Diversified Employee Benefit Trust indicated interest in purchasing up to 750,000 shares at the public offering price, though no purchase commitment has been made.

Diversified will not offer any shares in the secondary offering and will not receive any proceeds from the sale. All net proceeds will go to the selling shareholders.

Mizuho and Raymond James serve as joint book-running managers and representatives of the underwriters for the offering. Citigroup is also acting as a joint book-running manager.

The company filed a shelf registration statement with the U.S. Securities and Exchange Commission on May 16, 2025, which became effective upon filing. The offering will be conducted through a prospectus supplement and accompanying prospectus.

Diversified Energy focuses on natural gas and liquids production, transportation, marketing and well retirement. The Birmingham, Alabama-based company trades on both the London Stock Exchange and New York Stock Exchange under the ticker DEC.

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