Diversified Energy Acquires Texas Natural Gas Assets for $106 Million, Boosting Production and Reserves Significantly.

Diversified Energy, a US-based oil and gas company, has completed the $106m acquisition of natural gas properties and related facilities in eastern Texas from Crescent Pass Energy. The deal includes 827 net operated proven developed producing wells and is set to add 38 million cubic feet equivalent per day (MMcfepd) of production, a 5% increase from the first quarter of 2024. The assets are expected to bring in approximately 170 billion cubic feet (Bcfe) of reserves, with a present value of $155m. The acquisition also includes over 805km of pipelines and compression facilities. The net consideration includes the creation of 2,249,650 new US dollar-denominated ordinary shares and $71m in cash.