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Diversified Energy Expands Oklahoma Operations With $550 Million Canvas Energy Deal
Diversified Energy CompanyDiversified Energy Company(US:DEC) Yahoo Finance·2025-09-09 17:36

Diversified Energy Co. PLC (NYSE:DEC) said it will buy privately held Canvas Energy in a 550milliondealthatexpandsitsfootprintinOklahoma.TheacquisitionincludesproducingwellsandundevelopedacreageinMajor,Kingfisher,andCanadiancounties.TheBirmingham,Alabama−basedcompanysaidthepurchasewillliftproductionby13550 million deal that expands its footprint in Oklahoma. The acquisition includes producing wells and undeveloped acreage in Major, Kingfisher, and Canadian counties. The Birmingham, Alabama-based company said the purchase will lift production by 13%, increase adjusted EBITDA by 18%, and free cash flow by 29%. Canvas produces about 147 million cubic feet equivalent per day, with reserves valued at nearly 690 million. ...