Diversified Energy Co PLC - US-focused natural gas producer - Completes $410 million acquisition of assets from Oaktree Capital Management LP, as announced in March. Also completes an acquisition-related redetermination of the borrowing base of its revolving credit facility, resulting in a 26% or $80 million increase in the borrowing base to $385 million and estimated post-transaction liquidity of around $130 million.
Chief Executive Rusty Hutson says: ‘This transaction represents another deliberate step in our disciplined approach to focus on accretive acquisitions that enhance our scale, deliver margin expansion, and expand free cash flow.’ Describes the transaction as a ‘unique opportunity to consolidate these assets and represents the culmination of a successful, multi-year partnership with Oaktree’.
Current stock price: 1,107.83 pence, down 0.6% in London on Friday
12-month change: down 41%
Copyright 2024 Alliance News Ltd. All Rights Reserved.
