Diversified Energy Acquires Assets in Appalachian Basin

Diversified Energy Company PLC has announced the acquisition of natural gas properties in Virginia, West Virginia, and Alabama from Summit Natural Resources. The purchase, amounting to approximately $45 million, is expected to close in the first quarter of 2025.

This acquisition includes around 300 producing wells in the Appalachian region and 265 Coal Mine Methane wells in Alabama. These assets are anticipated to enhance coal mine methane revenue and align with Diversified's operational footprint, enhancing synergies and cash margins.

The expected estimated adjusted EBITDA for 2025 is around $12 million, highlighting improved production economics. The acquisition also facilitates the growth of strategic midstream pipelines, allowing access to premium sales points.

Diversified Energy emphasizes its strategic approach to leveraging existing capabilities to optimize acquired assets and expand its coal mine methane revenue stream.