SM - Diversified Energy Acquires Accretive Assets Worth $377M | Benzinga
Diversified Energy Company plc (NYSE: DEC) has completed the acquisition of a proportionate working interest in certain assets from Oaktree Capital Management. The assets are located within the company's Central Region, in Oklahoma, East Texas and Louisiana. Diversified Energy announced the acquisition in March 2024, valued at $410 million before customary price adjustments.
The acquisition was completed at a net purchase price of $377 million, after applying customary price adjustments. The company will pay $83 million of the total consideration in deferred cash payments to Oaktree. DEC also assumes Oaktree's proportionate debt to be approximately $120 million.
The acquired assets currently produce approximately 122 million cubic feet equivalent per day (MMcfe/d). These include Proved Developed Producing reserves of 510 billion cubic feet equivalent (Bcfe). The value of the PDP reserves at PV10 is ...