Diversified Energy Company strikes $1.8bn deal for Permian producer Birch - UPDATE
Diversified Energy Company (DEC) agreed to acquire Birch, a Permian Basin producer, for $1.8bn, expecting a 35% production and 55% EBITDA increase. Birch contributes 68,000 boe/d and $548m annual EBITDA. DEC plans to fund the deal with a $1.5bn securitisation. Peel Hunt rates DEC 'buy' up to 3,000p, with shares trading at 1,123.32p, down 0.8%.



