Diversified Energy Expands Portfolio With Canvas Energy Acquisition

Key Takeaways DEC boosts output by acquiring Canvas assets, delivering 147 MMcfe/d and expanding Oklahoma acreage.The $550M deal, funded by a $400M ABS issuance, enhances DEC's scale and financial flexibility.DEC issued 3.7M new shares to Canvas holders, bringing total voting rights to 80.4M shares.Diversified Energy Company (DEC) has officially completed its acquisition of Canvas Energy, adding a sizable set of producing assets and Oklahoma acreage that immediately lifts its scale. The transaction, funded ...