Diversified Energy has closed its $68 million cash-and-stock bolt-on of East Texas natural gas assets, the company said on Oct. 30. Diversified said its net purchase price was $49 million after customary purchase price adjustments.

The acquisition, from a regional operator, adds the equivalent of 70 Bcf of proved developed producing with a PV-10 of $89 million. Diversified estimated next 12 month adjusted EBITDA of $19 million and said the purchase price multiple, gross, was 3.5x. Current net production is 21 MMcfe/d, or about 4,000 boe/d.

The deal, announced in August, is the second East Texas acquisition this year. The company previously closed a cash-and-stock deal of about 170,000 acres of leasehold in eastern Texas from Crescent Pass Energy.

Diversified Energy has closed its $68 million cash-and-stock bolt-on of East Texas natural gas assets, the company said on Oct. 30. Diversified said its net purchase price was $49 million after customary purchase price adjustments.

The acquisition, from a regional operator, adds the equivalent of 70 Bcf of proved developed producing with a PV-10 of $89 million. Diversified estimated next 12 month adjusted EBITDA of $19 million and said the purchase price multiple, gross, was 3.5x. Current net production is 21 MMcfe/d, or about 4,000 boe/d.

The deal, announced in August, is the second East Texas acquisition this year. The company previously closed a cash-and-stock deal of about 170,000 acres of leasehold in eastern Texas from Crescent Pass Energy.