Diversified Energy has tallied 21 total transactions valued at about $2.5 billion while returning $492 million in dividends.At first blush,Diversified Energy Co.Pic's foray into Oklahoma with its recent ConocoPhillips Co.bolt-on might have seemed counterintuitive that not so long ago the region was regarded as a shale pariah.Even before a downturn,followed by the havoc of the pandemic,many operators viewed the Midcontinent's hit-or-miss wells as a basin non-grata.Assorted bankruptcies didn't help the Midcontinent's reputation as an underperforming play to be eschewed in favor of easier plunder elsewhere.Diversified saw something else:steady production.In late July,Diversified agreed to pay ConocoPhillips $240 million for 250,000 net western Anadarko Basin acres at what Diversified priced at a PV-17 cost.The asset happened to fit glove-like with its 2021 purchase of Tapstone Energy's Midcontinent assets for $419 million,Diversified CEO Rusty Hutson told Hart Energy.
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