Diversified has announced the acquisition of a portfolio of high-margin, low-decline upstream assets and related facilities in Oklahoma and Texas from ConocoPhillips for an estimated net purchase price of US$210m – an attractive 2.5x multiple based on an Adjusted EBITDA of US$82m. At US$210m, the net purchase price approximates a PV17 PDP valuation at the effective date and represents an attractive discount of c29% to the estimated PV10 using the NYMEX strip as at 25 July 2022. The assets includ ....
