Diversified Energy to Acquire Camino Assets for $1.175B with Carlyle
Diversified Energy Company, through its subsidiary Diversified Gas & Oil Corporation, has entered into a Securities Purchase Agreement to acquire 100% of certain oil and natural gas assets in Oklahoma from affiliates of Camino Natural Resources for $1.175 billion. The acquisition is a strategic partnership with Carlyle Global Credit, which will fund 60% of the developed assets' purchase price in exchange for a 60% ownership interest in a newly formed special purpose vehicle (SPV). Diversified will retain 40% ownership in the SPV and 100% of the undeveloped assets, funding its portion with an estimated $210 million from its revolving credit facility. The deal is expected to close in the third quarter of 2026, adding significant production, reserves, and undeveloped acreage contiguous to Diversified's existing operations.
Key Highlights
- Diversified Energy to acquire oil and natural gas assets from Camino Natural Resources for $1.175 billion.
- Carlyle Global Credit to fund 60% of the Developed Assets purchase price, holding 60% ownership in a new SPV.
- Diversified Energy to fund an estimated $210 million from its revolving credit facility.
- The acquisition includes current net production of ~300 MMcfepd (~51 Mboepd).
- Total Proved Reserves are estimated at ~1,478 Bcfe.
- The acquisition adds ~101,000 acres with over 100 identified, drill-ready inventory locations.
- The transaction is expected to close in the third quarter of 2026.
- Estimated NTM EBITDA of the acquired assets is approximately $397 million.
Price Impact
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