Billion-Dollar Energy Acquisition

Diversified Energy Company Announces $1.8 Billion Acquisition of Birch Permian Holdings

Diversified Energy Company (NYSE: DEC, LSE: DEC) has announced the acquisition of Birch Permian Holdings, Inc. and certain affiliated companies from affiliates of Elliott Investment Management L.P. Expected to increase production by 35% and Adjusted EBITDA by 55%, Diversified plans to become an increasingly significant operator and marketer of oil and natural gas in the US. The acquisition is valued at approximately $1.8 billion and will be funded through an Asset Backed Securitization of approximately $ 1.5 billion through a partnership with Carlyle's Asset-Backed Finance and Capital Markets teams (“Carlyle), along with available liquidity under Diversify’s revolving credit facility. The Acquisition further solidifies Diversification's vertically integrated, four-basin PDP operating model and establishes a significant PDP asset base in the Permican Basin. The expansion of this partnership is a testament to the attractive and broad opportunity set in PDP consolidation.

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