Diversified Announces Accretive Acquisition of Birch

Diversified Energy Company announced the acquisition of Birch Permian Holdings for approximately $1.8 billion, its largest acquisition in 25 years. The deal is expected to increase production by ~35% and Adjusted EBITDA by ~55%, with funding primarily through a $1.5 billion asset-backed securitization from Carlyle. The acquisition establishes Diversified as a scaled Permian operator and expands its partnership with Carlyle to pursue up to $10 billion in future PDP acquisition opportunities.