From Nasdaq: 2025-01-06 02:55:11

Diversified Energy Company Plc (DEC) announced the acquisition of natural gas properties in Virginia, West Virginia, and Alabama from Summit Natural Resources for $45 million. The deal includes 300 net producing wells in Virginia and West Virginia, as well as 265 coal mine methane wells in Alabama. The assets have a production capacity of 12 MMcfepd and PDP reserves of 65 Bcfe. The acquisition is expected to generate EBITDA of $12 million in 2025, funded through cash on hand and current liquidity. This move will help DEC capture additional revenue from the production of coal mine methane.



Read more at Nasdaq: Diversified Energy To Buy Natural Gas Assets For Around $45 Mln From Summit Natural Resources