DEC · Diversified Energy Company PLC

Diversified Energy Company PLC has successfully completed a significant acquisition of oil and natural gas assets in east Texas. The transaction, which closed on April 30, 2026, involved the purchase of wells and leasehold interests across five counties—Cherokee, Harrison, Nacogdoches, Panola, and Rusk—from Sheridan Holding Company III, LLC. The total consideration was approximately $248 million, a material sum indicative of a strategic expansion of the company's asset base. The funding mechanism utilized borrowings under the company's existing senior secured revolving credit facility, which implies an increase in leverage to finance the growth. The swift execution from the agreement date in late February to the closing in late April suggests an efficient transaction process. This acquisition aligns with Diversified's strategy of consolidating assets in its core operating regions, potentially enhancing production and reserves. Investors should note the use of debt financing and the resulting impact on the company's leverage profile and capital structure.