AcquisitionsMay 1, 2026, 05:02 PM
Diversified Energy Completes $248M Acquisition of East Texas Assets
AI Summary
Diversified Energy Company, through its wholly-owned subsidiary Diversified Production LLC, has completed the acquisition of oil and natural gas wells, leasehold interests, and related assets in east Texas from Sheridan Holding Company III, LLC. The transaction, previously announced on February 26, 2026, closed on April 30, 2026, for approximately $248 million, subject to adjustment. The purchase was funded by borrowings under Diversified’s senior secured revolving credit facility. The company will file required financial statements and pro forma information within 71 days.
Key Highlights
- Diversified Energy completed the acquisition of oil and natural gas assets on April 30, 2026.
- The total purchase price for the assets was approximately $248 million, subject to adjustment.
- The acquisition includes oil and natural gas wells, leasehold interests, and related assets.
- Funding for the purchase was secured through borrowings under the company's senior secured revolving credit facility.
- The acquired assets are located in east Texas, including Cherokee, Harrison, Nacogdoches, Panola, and Rusk Counties.
- The Purchase Agreement was initially disclosed on February 26, 2026.
- Required financial statements and pro forma information will be filed within 71 days.