Diversified Energy Company PLC (LSE: DEC) announces the conditional acquisition of certain Cotton Valley and Haynesville upstream assets and related facilities ( the Assets ) in the states of Louisiana and Texas from Tanos Energy Holdings III LLC ( Tanos ) (the Acquisition ). Concurrently, Oaktree Capital Management, L.P. ( Oaktree ) will co-invest in the Acquisition under the joint participation agreement announced on 5 October 2020, marking Oaktree s inaugural participation in a transaction with Diversified and affirming their confidence in the Company s recently defined Central Regional Focus Area ( Central RFA ). Total cash consideration for the Acquisition is $308 million. Oaktree will also co-invest in the assets Diversified recently acquired from Indigo Minerals LLC ( Indigo ) to more fully align both parties as working interest partners in assets located in the Cotton Valley/Haynesville region given the contiguous nature of
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