Diversified Energy Company PLC continues to fortify its position as a leader in the natural gas sector with a transformative acquisition of natural gas properties and midstream facilities. This latest move underscores the company’s commitment to expanding its Appalachian footprint while boosting operational efficiency and revenue streams.
Diversified Energy has finalised a $45 million acquisition from Summit Natural Resources, funded entirely through existing cash reserves and liquidity. The deal brings 300 producing wells and 265 coal mine methane wells into the company’s portfolio, significantly enhancing its operational synergy in Virginia, West Virginia, and Alabama. These assets contribute a robust net production of 12 million cubic feet equivalent of natural gas daily, ensuring a steady boost to the company’s overall output.
The inclusion of midstream facilities is a strategic coup, augmenting Diversified Energy’s capacity to transport gas to premium sales markets. This not only streamlines operations but also strengthens revenue potential by optimising market access for the company’s production. By integrating these facilities with its existing Appalachian operations, Diversified Energy is poised to achieve greater efficiency while delivering value to stakeholders.
Diversified Energy Company plc (LON:DEC) is an independent energy company engaged in the production, marketing, transportation and retirement of primarily natural gas and natural gas liquids related to its U.S. onshore upstream and midstream assets.
