Diversified Energy to acquire Canvas Energy for $550m.

Diversified Energy, a gas and oil production company, agreed to acquire Canvas Energy, a private oil and natural gas exploration and production company, for $550m. “This purchase strengthens Diversified by further expanding our footprint in our Oklahoma operating area with targeted assets that are a perfect fit for increasing our scale, allowing for synergy capture and providing meaningful opportunities for margin enhancement, that ultimately will grow and bolster our cash flow. We are excited to leverage our strategic partnership with Carlyle for funding accretive acquisitions and are pleased with the collective team's collaboration," Rusty Hutson, Diversified Energy CEO.