Diversified Energy to buy Birch for $1.8 billion, boost Permian footprint
DEC•Partnership with Carlyle expanded
Diversified Energy and Carlyle also expanded their partnership, allowing the companies to pursue up to $10 billion in future acquisitions, up from $2 billion currently.
Background on Birch and recent deals
Birch, backed by investment firm Elliott Investment Management, was formed from assets restructured under Breitburn Energy Partners' 2018 Chapter 11 bankruptcy.
The deal follows Diversified's 2025 acquisition of Maverick Natural Resources, which also had assets in the Permian Basin, the largest oilfield in the U.S., for $1.28 billion including debt.
Diversified Energy to acquire Birch for about $1.8 billion
Sept. 2 (Reuters) - U.S.-based Diversified Energy said on Wednesday it will acquire privately held Birch for about $1.8 billion, expanding its presence in the oil- and gas-rich Permian Basin.
Birch produces about 68,000 barrels of oil equivalent per day and holds 480 net wells.
The acquisition will be funded primarily through a $1.5 billion asset-backed securitization arranged with investment firm , along with existing credit facilities.
