Diversified Energy Company (LSE:DEC) agreed to acquire a bolt-on portfolio of producing oil and gas properties and related assets in the Anadarko Basin from Camino Natural Resources for $1,175 million before customary purchase price adjustments, adding ~300 MMcfepd (~51 Mboepd) of production and ~101,000 acres.
The deal will be funded through a bespoke asset‑backed securitization arranged by Carlyle, with a newly formed SPV holding the producing assets (Carlyle ~60%, Diversified ~40%), Diversified retaining undeveloped acreage outside the SPV, and Diversified funding approximately $210 million net via availability under its senior secured bank facility without issuing equity.
Financially the purchase implies a price per flowing Mboe of approximately $23,000 and a reported ~3.0x multiple of NTM EBITDA based on an estimated NTM EBITDA of ~$397 million and total proved reserves of ~1,478 Bcfe, and it brings over 100 drill‑ready locations and approximately 100 additional undeveloped inventory locations.
Diversified said the assets are contiguous with its existing Oklahoma position and create "meaningful opportunities for material synergies upon completion of the Acquisition," CEO Rusty Hutson, Jr. said.
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026.
