Diversified Energy and Carlyle Secure $1.175 Billion Oklahoma Asset Deal
CG•Diversified Energy Company PLC and Carlyle will acquire a US$1.175bn portfolio of Oklahoma oil and gas assets from Camino Natural Resources. The transaction is financed via asset-backed debt to avoid new equity issuance and includes producing Anadarko Basin fields plus undeveloped SCOOP/STACK/MERGE acreage.
1. Acquisition Terms
Diversified Energy Company PLC and Carlyle have agreed to purchase a US$1.175 billion package of oil and gas assets in Oklahoma from Camino Natural Resources. The partnership structure allocates ownership stakes and management responsibilities between the two sponsors.
2. Financing Structure
The entire purchase is funded through asset-backed debt secured against the acquired properties, enabling the company to avoid issuing new equity and preserve existing shareholder ownership. Lenders will look to cash flows from these assets for repayment.
3. Asset Portfolio
The deal encompasses producing fields in the Anadarko Basin, which contribute immediate cash flow, along with undeveloped acreage in the SCOOP/STACK/MERGE zones. This combination increases proven reserves and provides future development upside in a core US onshore basin.
