Diversified Energy Company announces the closing of its previously announced acquisition of operated natural gas properties located within eastern Texas from a regional operator.

The net consideration for the Acquisition consists of a combination of the issuance of 2,342,445 new US-dollar denominated ordinary shares to the Seller, and cash consideration of $22 million, drawing from a senior secured bank facility supported by the acquired assets and existing liquidity. The New Shares represent approximately 4.57% of the Company's existing issued share capital. The shares conveyed to the seller are subject to standard regulatory restrictions for a period of six months.

CEO Rusty Hutson, Jr. commented:
"We are excited to announce the completion of another acquisition of high-quality, bolt-on assets within our Central Region, which are immediately accretive to operations, further increase operating scale and provide the opportunity for cost synergies. We look forward to welcoming our new employees as Diversified leverages their experience for efficient integration, and the deployment of our Smarter Asset Management and sustainability initiatives across these assets."

KeyFacts Energy Industry Directory: Diversified Energy   l   KeyFacts Energy: Acquisitions & Mergers news