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Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) has further increased its footprint in East Texas, acquiring interests in a package of assets. The acquisition, priced at $68 million, will add 21 million cubic feet per day (4,000 barrels oil equivalent) of production and 70 billion cubic feet (12mln barrels oil equivalent) of Proved Developed Producing (PDP) reserves to Diversified's portfolio. Separately, and concurrently, a third-party development company is acquiring undeveloped acreage for approximately $19 million, with Diversified taking a 5% minority interest for an investment of $1 million. DEC will pay the seller, described as “a regional operator”, $18 million in cash with the remainder of the deal consideration paid in new DEC shares. More at #Proactive #ProactiveInvestors http://ow.ly/3m9f105G4In

88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has agreed a deal to further expand its portfolio on non-operated wells in Texas, adding a 64.4% interest in around 1,262 of net acres with the potential to substantially increase production volumes. The newly acquired acreage is already host to nine ‘low-producing’ wells, and, ten field development opportunities. Work programmes planned for 2024 will include five well workovers in the first half, to deliver around 180 to 220 barrels oil equivalent per day from existing well stock, and, its anticipated that the drilling of two new wells could follow to add another 160 to 200 barrels per day. 88 Energy expects that its Texas portfolio could at that point yield 600 to 675 barrels per day. More at #Proactive #ProactiveInvestors #AIM #ASX #OTC #88E #EEENF #88energy #oil #texas http://ow.ly/o5te1055KKc

88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has agreed a deal to further expand its portfolio on non-operated wells in Texas, adding a 64.4% interest in around 1,262 of net acres with the potential to substantially increase production volumes. The newly acquired acreage is already host to nine ‘low-producing’ wells, and, ten field development opportunities. Work programmes planned for 2024 will include five well workovers in the first half, to deliver around 180 to 220 barrels oil equivalent per day from existing well stock, and, its anticipated that the drilling of two new wells could follow to add another 160 to 200 barrels per day. 88 Energy expects that its Texas portfolio could at that point yield 600 to 675 barrels per day. More at #Proactive #ProactiveInvestors #AIM #ASX #OTC #88E #EEENF #88energy #texas #oil #well http://ow.ly/o5te1055KKc

Energy News: Chesapeake Energy has agreed to buy rival Southwestern Energy making it the largest producer of natural gas in the US. The all-stock transaction is valued at $7.4 billion. 📈 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 𝐈𝐦𝐩𝐫𝐞𝐬𝐬𝐢𝐯𝐞 𝐒𝐜𝐚𝐥𝐞: 7.9 Bcfe/d net production with over 5,000 locations. $𝟒𝟎𝟎𝐌 𝐢𝐧 𝐒𝐲𝐧𝐞𝐫𝐠𝐢𝐞𝐬: Enhanced capital efficiencies and operating margins are anticipated. 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐔𝐩𝐥𝐢𝐟𝐭: Immediate improvement in key financial metrics. 𝐆𝐥𝐨𝐛𝐚𝐥 𝐑𝐞𝐚𝐜𝐡: Expansion in marketing and trading, addressing LNG demand. 𝟐𝟎% 𝐃𝐢𝐯𝐢𝐝𝐞𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡: Leveraging synergies for enhanced shareholder value. 𝐑𝐨𝐛𝐮𝐬𝐭 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲: Commitment to net zero GHG emissions by 2035. 💡 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲: This merger is a strategic leap, promising financial strength, sustainability leadership, and a reinforced position in the global energy market. #NaturalGas #EnergyIndustry #MergersAndAcquisitions https://vist.ly/uwah

Diversified Energy Company PLC's (LSE:DEC, NYSE:DEC) latest asset acquisition in Texas looks like a high-quality and well-priced addition, that’s according to analysts at stockbroker Peel Hunt. The broker, following today’s deal news, repeated a ‘buy’ recommendation for the London and NYSE listed American oil and gas company. With a price target pitched at 3,000p, Peel Hunt sees very substantial upside for the share – which today trades at around 1,116p. “[The acquisition] is a very good fit with Diversified's existing asset base. We will update our model in due course,” Peel Hunt analyst Matt Cooper said in a note. In a statement this morning, DEC described the newly picked up assets as high-quality natural gas properties in eastern Texas. DEC is paying $106 million to acquire the assets from Crescent Pass Energy, including the issuing of 2.4 million shares to the seller. The asset package comprises 827 operated... More at #Proactive #ProactiveInvestors http://ow.ly/QnPr105A7xI

Energy Transfer plans to acquire WTG Midstream for $3.25 billion, the latest deal in an ongoing consolidation of the industry that provides feedstocks to chemical plants. https://lnkd.in/dBqi-4Qu #ICIS #Midstream #EnergyTransfer #WTGmidstream #acquisition #feedstocks #chemicals #chems

Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) has completed the acquisition of natural gas properties and related facilities in eastern Texas from Crescent Pass Energy. The purchase price of $106 million was adjusted to a net price of $101 million after customary adjustments. Acquired assets include Proved Developed Producing (PDP) reserves of approximately 170 billions of cubic feet equivalent and current net production of 38 million cubic feet per day.  The acquisition's estimated Next Twelve Months (NTM) Adjusted EBITDA is projected to be $26 million, leading to a purchase price multiple of 3.8x. Diversified is funding the acquisition through the issuance of 2.25 million new ordinary shares and $71 million in cash. These new shares represent approximately 4.77% of the company’s existing issued share capital. Diversified’s chief executive Rusty Hutson stated: "We are excited to announce the completion of... More at #Proactive #ProactiveInvestors http://ow.ly/2luF105FAk1

Diversified Energy Company PLC (LSE:DEC, NYSE:DEC) has announced its latest acquisition, picking up what it described as high-quality natural gas properties in eastern Texas. DEC is paying $106 million to acquire the assets from Crescent Pass Energy, including the issuing 2.4 million shares to the seller. The asset package comprises 827 operated wells and over 500 miles of pipelines, with current production of 38 million cubic feet per day, with low annual decline rates, and earning (NTM EBITDA) of $26 million per year. It adds 170 billion cubic feet of PDP (proved developed and producing) reserves, valued at $155 million. Rusty Hutson, DEC chief executive, described the assets as “a perfect fit” for the company’s existing East Texas portfolio. “The accretive transaction adds scale to our Central region footprint and remains consistent with our strategy to focus on high-quality, low-decline producing assets at... More at #Proactive #ProactiveInvestors http://ow.ly/wJZq105A5YJ

As a result of the acquisition, Energy Transfer now owns and operates more than 125,000 miles of pipelines and related assets in all the major U.S.-producing regions and markets across 41 states, further enhancing its leadership position in the midstream sector. In August, Energy Transfer announced that it intended to buy rival Crestwood Equity Partners in a deal valued at about $7.1 billion including debt. Under the agreement, Energy Transfer acquires a larger share of energy transport in three top shale basins, adding about 2 billion cubic feet per day (Bcf/d) of gas-gathering capacity, 1.4 Bcf/d of gas-processing capacity and 340,000 barrels per day (bpd) of crude-gathering capacity. https://lnkd.in/g8SdDFgf

NEWS OF THE DAY! SM Energy Company Eyes $3 Billion Expansion with XCL Resources Acquisition, Boosting Uinta Basin Presence 1. SM Energy (NYSE:SM) is in advanced discussions to buy XCL Resources, a Utah-based oil and gas company. 2. The potential deal values XCL Resources at approximately $3 billion. 3. An announcement about the deal could happen soon, involving XCL's backers, including EnCap Investments. 4. If finalized, the acquisition would expand SM Energy's operations into the Uinta Basin. 5. The Uinta Basin produces a special waxy oil used in lubricants. 6. Currently, SM Energy operates mainly in the Eagle Ford and Midland basins in Texas. =>Please follow Finplate and stay updated with the latest mergersandacquisitions news. Thanks in advance. To read the news in detail, click below: https://lnkd.in/gEnA6ZPC