Diversified Energy Company completed the acquisition of certain upstream assets, field infrastructure, equipment and facilities of Tapstone Energy for $218m.

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.