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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BIRMINGHAM, AL / ACCESSWIRE / April 30, 2021 / London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ("DGO" or "the Company"), announces the $135 million (gross) conditional acquisition of certain Cotton
Diversified Gas & Oil PLC (LSE: DGOC) announces the $135 million (gross) conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana ( the Assets ) from Indigo Minerals LLC ( Indigo ), (the Acquisition ) and the following operations and trading update for the quarter ended 31 March 2021. The Acquisition represents the first for the Company in its newly identified Central Regional Focus Area ( RFA ) where it expects to replicate its proven business model on an expanded opportunity set: • Acquisition Highlights ◦ ~2.9x multiple on ~$40MM of Adjusted EBITDA (Hedged)
(a) before anticipated synergies
(b) ◦ PV10 ~$175MM as of 1 March 2021 effective date and based on 16 April 2021 NYMEX strip price
Diversified Gas & Oil PLC Announces Conditional Acquisition in New Regional Focus Area and Trading Update
BIRMINGHAM, AL / ACCESSWIRE / April 30, 2021 / London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ( DGO or the Company ), announces the $135 million (gross) conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana ( the Assets ) from Indigo Minerals LLC ( Indigo ), (the Acquisition ) and the following operations and trading update for the quarter ended March 31, 2021.
The Acquisition represents the first for the Company in its newly identified Central Regional Focus Area ( RFA ) where it expects to replicate its proven business model on an expanded opportunity set: