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Diversified Energy raises a further US$225mln as it doubles up in new focus area
Two quickfire deals see the company establish 32,000 boepd of production in a new focus area for just over US$300mln
Diversified Energy Company PLC (LON:DEC) confirmed it has raised US$225mln in a placing and retail offer as it advances its latest acquisition.
It will issue 141.5mln new shares at 112p per share.
Proceeds will cover the cost of the newly announced Blackbeard acquisition which sees the company pick up another 820 wells producing 16,000 barrels oil equivalent per day (boepd) in its recently established Central regional focus area (RFA). The deal consideration is US$166mln.
Diversified Gas & Oil has remained stable and is potentially in a position to strengthen at portfolio level amidst the turmoil in the US oil and gas.