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One-Page Deal Sheet

Diversified Picks Up MidCon Assets from Conoco for $240 Million

Diversified Energy Company plc ConocoPhillips
AnnouncedJul 28, 2022
TypeProperty
LocationAnadarko Basin,Mid-Continent,STACK
Announced Date
July 28,2022
Transaction Type
Property




Snapshot
Net Acres
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Proved Reserves
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Location
Region
Mid-Continent - North Texas,Mid-Continent - Anadarko Basin

Country
United States

State
Texas

County
Lipscomb ,Hartford ,Hutchinson ,Roberts ,Hemphill ,Wheeler

Play
Anadarko Basin,Mid-Continent,STACK


Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)

Transaction Details:  Subscribe to see

Diversified Energy Company PLC has agreed to acquire certain upstream assets and related facilities in Oklahoma and Texas from ConocoPhillips for $240 million.

Deal Details: Acreage: 250,000 net Production: 9,000 BOEPD (~52 MMcfepd; 60% operated) Proved Reserves: ~31 MMBOE (186 Bcfe) Wells: This deal includes an interest in ~1,500 producing wells located in Oklahoma and Texas

Commenting on the Acquisition, CEO Rusty Hutson, Jr. said: "I am pleased to announce another strategically-aligned acquisition at a compelling valuation in the Company's Central Region that reinforces our…


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Price History


Date Deal Headline Price$/acre
Jan-27-2025 Diversified Acquires Maverick for $1.275 Billion to Expand Liquids Exposure and Anadarko/Permian Footprint - -
Sep-06-2022 Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion - -
Oct-20-2021 Citizen Energy Picks Up Mid-Continent Asset; 28,000 Net Acres - -