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Diversified Energy Company completes acquisition and increases credit facility

Diversified Energy Company PLC (LON/NYSE:DEC) has announced the closing of its acquisition of the proportionate working interest in certain assets within the Company’s Central Region from Oaktree Capital Management, as announced on March 19, 2024. Concurrently, the Company also completed an acquisition-related redetermination of the borrowing base of its revolving credit facility resulting in a 26% or $80 million increase in the borrowing base to $385 million and estimated post-transaction liquidity of ~$130 million.

Acquisition Highlights

•     Purchase price of $410 million before customary purchase price adjustments

•     Acquisition net purchase price of $377 million after customary purchase price adjustments

•     PDP reserves of 510 Bcfe (~85 MMBoe) and a PDP PV10 of ~$462 million(a)

•     Current net production of 122 MMcfepd (~20 Mboepd)

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