Diversified Energy to acquire Birch Permian assets for $1.8B, adding 46,000 Midland Basin acres

Diversified Energy Co

Acquires ~46,000 net mineral acres, 500 gross operated (480 net) wells in Midland Basin via three agreements.
Total purchase price ~$1.8B incl. debt repayment; funded by ~$1.5B asset-backed securitization and revolver.
Merger Agreement for Birch Permian Holdings at ~$1.1B; MIP Purchase at ~$281M; Birch II Purchase at ~$413M.
Deal expected to close Q4 2026; $50M deposit paid, $50M termination fee provision.
Acquisition includes integrated midstream and water infrastructure assets.

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