$1.8bn Birch Permian acquisition creates high-impact expansion, with financing, regulatory and execution risks pending closing

Key Facts

• On September 2, 2026, Diversified Energy Company entered into definitive agreements with Birch Permian Holdings, Inc., holders of non-voting incentive interests in Birch Permian, LLC, and Birch Permian II, LLC to pursue a merger and related acquisitions.
• If completed, the Transactions would add approximately 46,000 net mineral acres in the Midland Basin, 500 gross operated wells (480 net total), and integrated midstream and water infrastructure assets.
• The aggregate purchase price is approximately $1.8 billion, inclusive of repayment of indebtedness, subject to transaction-agreement adjustments; funding is expected to include an approximately $1.5 billion asset-backed securitization, other customary financing sources, and available revolving-credit-facility liquidity.
• The Transactions are expected to close simultaneously in the fourth quarter of 2026, but closing remains subject to customary conditions; the agreements include termination rights if specified conditions are not met or closing is prohibited or delayed.

Source

View the source SEC filing