Diversified and Carlyle Partner in $1.2 Billion Deal to Acquire Camino’s Anadarko Assets
[Click image to enlarge]
[Click image to enlarge]
Diversified Energy and global investment firm Carlyle’s Global Credit platform said they have entered into an agreement to acquire certain oil and natural gas properties, along with related assets located in the Anadarko Basin of Oklahoma from Camino Natural Resources for approximately $1.2 billion.
“We are excited to again partner with Carlyle to acquire high-quality assets that complement our existing Oklahoma operations,” said Rusty Hutson, Jr., chief executive officer of Diversified Energy.
“This transaction adds meaningful scale to our portfolio and reflects our continued focus on acquiring and optimizing long-life, cash-generating assets. We see significant opportunity to drive operational efficiencies and enhance long-term value through this acquisition,” added Hutson.
“This transaction demonstrates what’s possible when structuring expertise and long-term capital are paired with a best-in-class operator,” said Akhil Bansal, head of Asset-Backed Finance at Carlyle.
“We’re proud to work alongside Diversified to create a financing solution purpose-built for these assets, and we see this as a model for how Carlyle approaches asset-backed investing,” added Bansal.
The acquisition provides 100 additional high-quality, undeveloped inventory locations in an active development area, with Diversified maintaining in excess of 450 locations in Oklahoma, pro forma for the acquisition.
The acquisition builds on the strategic partnership between Diversified and Carlyle in 2025, which combines Carlyle’s asset-backed finance capabilities with Diversified’s operating expertise to invest in proved developed producing (PDP) energy assets across the United States.
The acquisition provides additional, high-quality undeveloped inventory locations in an active development area that are contiguous with Diversified’s existing operations in Oklahoma. The transaction is expected to increase scale in the region and provide opportunities for operational efficiencies and cost synergies.
The transaction will be financed through a bespoke asset-backed securitization (ABS) structured and arranged by Carlyle. In connection with the acquisition, Carlyle and Diversified will establish a newly formed special purpose vehicle that will hold the producing assets and issue debt backed by the underlying cash flows. Carlyle will hold a majority ownership interest in the SPV that issues the ABS, with Diversified retaining a minority ownership stake and serving as operator of the assets and manager of the ABS.
This structure is designed to provide long-term, efficient financing aligned with the assets’ production profile, while enabling scaled investment without reliance on traditional corporate financing or equity issuance. Certain undeveloped acreage will be retained directly by Diversified, providing additional upside and development flexibility outside of the securitized structure.
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions.
Diversified Energy is an energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through its differentiated strategy, they acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for its sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the right company at the right time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.
Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $477 billion of assets under management as of December 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,500 people in 27 offices across four continents.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2026 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
