DEC · Diversified Energy Company PLC

Summary

Diversified Production LLC, a subsidiary of Diversified Energy Company PLC, entered into a Purchase and Sale Agreement on February 26, 2026, to acquire oil and natural gas wells, leasehold interests, and related assets in east Texas counties from Sheridan Holding Company III, LLC for approximately $248 million, funded through borrowings under the senior secured revolving credit facility, with closing expected in Q2 2026.

Key takeaways

• Purchase and Sale Agreement executed February 26, 2026 between Diversified Production LLC and Sheridan Holding Company III, LLC
• Assets: oil and natural gas wells, leasehold interests in Cherokee, Harrison, Nacogdoches, Panola, and Rusk Counties, east Texas
• Aggregate purchase price: approximately $248 million, subject to adjustments
• Funding: borrowings under Company's senior secured revolving credit facility
• Expected closing: second quarter of 2026, subject to customary closing conditions
• Press release issued February 26, 2026 announcing the Acquisition (Exhibit 99.1)