Diversified Energy presents Birch acquisition plan to expand Midland Basin footprint
DEC•Diversified Energy outlined an acquisition of Birch assets in the Midland Basin that it will own outright. The transaction would increase pro forma adjusted EBITDA 55% to $1.53 billion, adjusted free cash flow 103% to $895 million and production 35% to 1,604 million cubic feet equivalent per day.
1. Acquisition figures
Diversified Energy outlined a plan to acquire Birch assets in the Midland Basin, which it will own outright. The deal would raise pro forma adjusted EBITDA 55% to $1.53 billion, adjusted free cash flow 103% to $895 million and production 35% to 1,604 million cubic feet equivalent per day. Carlyle is facilitating asset-backed securitization funding for the producing assets.
