Diversified Energy Company (NYSE : DEC) completed the acquisition of High-working interest, natural gas properties and related facilities from Sheridan Production Company III, LLC.
Diversified Energy Company (NYSE : DEC) entered into a purchase and sale agreement High-working interest, natural gas properties and related facilities from Sheridan Production Company III, LLC for approximately $250 million on February 26, 2026. Additional to this purchase price, the purchase price for the Subject Hedges shall be $2.8 million. The transaction is expected to be funded through existing liquidity from Diversified's senior secured bank facility.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions. The assets are projected to contribute approximately $52 million in EBITDA over the next twelve months.
Chris Heasley and Nathan Zhang of Latham & Watkins LLP acted as legal advisors for Diversified Energy Company and Rahul D. Vashi and Graham M. Valenta of Gibson, Dunn & Crutcher LLP acted as legal advisors for Sheridan Holding Company III, LLC.
Diversified Energy Company (NYSE : DEC) completed the acquisition of High-working interest, natural gas properties and related facilities from Sheridan Production Company III, LLC on April 30, 2026.
Diversified Energy Company is an energy company focused on natural gas and liquids production, transport, marketing, and well retirement. It has onshore upstream and midstream assets. Its assets are primarily located within the Appalachian and Central regions of the United States. The Appalachian Region spans Pennsylvania, Virginia, West Virginia, Kentucky, Tennessee and Ohio and consists of two productive unconventional shale formations, along with numerous conventional formations. It operates within the Marcellus Shale and the slightly deeper Utica Shale, as well as many conventional formations. Its Central Region includes parts of Texas, Louisiana and Oklahoma, and is home to a number of asset rich natural gas and oil formations. It operates within the Haynesville, Bossier, Cotton Valley, Barnett and Mid Continent plays. It has a Permian asset base with multiple zones in the Northern Delaware Basin. Its subsidiary, Next LVL Energy LLC, is an asset retirement service provider.
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Diversified Energy Company (NYSE : DEC) completed the acquisition of High-working interest, natural gas properties and related facilities from Sheridan Production Company III, LLC.
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