Diversified Energy Enhances Oklahoma Operations Through $550 Million Acquisition of Canvas Energy
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Acquisition Details: Diversified Energy Co. PLC is acquiring Canvas Energy for $550 million, which includes producing wells and undeveloped land in Oklahoma, expected to increase production by 13% and adjusted EBITDA by 18%.
Financial Impact: The acquisition is projected to enhance free cash flow by 29%, with the Oklahoma properties having EBITDA margins of about 70%, and will be funded through newly issued shares and Carlyle-backed financing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
