M&A
confidence high
sentiment positive
materiality 0.90
Diversified Energy to acquire Birch Permian for $1.8B, boosting production ~35% and EBITDA ~55%
Diversified Energy Co
- Acquisition of Birch Permian from Elliott affiliates valued at ~$1.8B; expected to close Q4 2026.
- Adds ~68 Mboepd production, ~480 net wells, ~1,168 Bcfe proved reserves (PV-10 ~$2.0B).
- Expected to increase production ~35% and Adjusted EBITDA ~55%; adds ~$548M annualized EBITDA.
- Funded by ~$1.5B ABS via Carlyle; Carlyle partnership expanded to up to $10B for future PDP deals.
- Subject to $50M break fee and regulatory approvals.