Announced
Completed
Financials
Tags
Single Bidder
Friendly
United States
Majority
Private
upstream assets
Domestic
Integrated Oil and Gas
Acquisition
Completed
Synopsis
Diversified Energy Company, an independent energy company, completed the acquisition of certain upstream assets, field infrastructure, equipment and facilities of Tapstone Energy, a growth-oriented, independent oil and natural gas company, for $218m. "With a net purchase price of less than two times net cash flow, this acquisition represents another highly accretive, fully balance sheet-financed acquisition that further demonstrates our status as a capable consolidator of producing assets within the Central Region. Our enlarged regional footprint strengthens our portfolio with additional high-quality assets and added scale to drive synergies. We are pleased to once again partner with Oaktree to acquire assets at a compelling multiple and with material upside potential available through asset optimization," Rusty Hutson, Diversified CEO.
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