Kirkland Reps Diversified In $240M Conoco Gas Assets Deal
By Ashish Sareen (July 28, 2022, 5:36 PM BST) -- Diversified Energy Co. PLC, represented by Kirkland & Ellis LLP, said Thursday that it has agreed to pay ConocoPhillips Co. $240 million to buy 1,500 gas-producing wells in the U.S. states of Oklahoma and Texas.
Diversified's acquisition, which is slated to close in late September, has come at a time when it is looking to expand its presence and scale in the company's central region — Diversified's term for its assets in Texas, Louisiana and Oklahoma; the latest deal with Houston-based ConocoPhillips marks Birmingham, Alabama-based Diversified's sixth since May 2021.
Diversified is publicly listed on the London Stock Exchange.
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