One-Page Deal Sheet
Diversified Energy Acquires Canvas Energy for $550MM
Diversified Energy Company plc Canvas Energy LLC
Announced Date
September 09,2025
Close Date
November 24,2025
Transaction Type
Asset
Net Acres
Net Operated Locations:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent - Anadarko Basin
Country
United States
State
Oklahoma
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
Production ($/Mcfe/d)
Transaction Details: Subscribe to see
Diversified Energy Company PLC (NYSE: DEC, LSE: DEC) agreed to acquire Canvas Energy Inc. — formerly known as Chaparral Energy and backed by Avenue Capital Group, Amzak Capital Management, and Millstreet Capital Management — for approximately $550 million. The transaction adds approximately 241,000 net acres in the Anadarko STACK play in Oklahoma with approximately 147 MMcfe/d of production (~24,000 Boe/d, 57% liquids), 570 net operated wells, approximately 200 MMBoe of proved reserves, and a PV-10 of approximately $690 million. Canvas provides Diversified with a significant low-decline…
Mid-Continent - Anadarko Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-17-2026 |
-  |
- |
Click here | Oklahoma | E&P |
| Aug-07-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Mar-24-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Sep-06-2022 |
- |
- |
Click here | E&P | |
| Jul-28-2022 |
- |
- |
Click here | Texas | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-17-2026 | Ovintiv Sells Anadarko Assets for $3 Billion | - |
- |
| Aug-07-2025 | Flywheel Energy Acquires ConocoPhillips' Oklahoma Anadarko Basin Assets for $1.3B | - |
- |
| Mar-24-2025 | Validus Energy Continues Buying Spree, Takes Out Anadarko Basin-Focused 89 Energy III | - |
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