Diversified Energy Completes Tapstone Acquisition
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Diversified Energy Company has closed on its acquisition of Oklahoma-based Tapstone Energy Holdings. The transaction consists of certain upstream assets, field infrastructure, equipment and facilities. Oaktree Capital Management completed its co-investment in the acquisition.
“As we close our fourth acquisition within the Central Region this year, we continue the efficient integration process of our high-quality assets within the region. Alongside former Tapstone personnel who today join the Diversified family, we look forward to implementing our proven Smarter Asset Management program and to leveraging our enlarged regional footprint to capture operational synergies,” said CEO Rusty Hutson, Jr.
“At less than two times adjusted EBITDA, this highly accretive and attractively priced acquisition further solidifies our position as a leading consolidator of producing assets in the Central Region and enhances our cash flow to support our ESG initiatives, dividend distributions, debt reductions, and further accretive reinvestment,” added Hutson.
About Diversified Energy Company
Diversified Energy Company is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic U.S. onshore upstream and midstream assets.
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