08:34 AM EDT, 08/20/2024 (MT Newswires) -- Diversified Energy ( DEC ) said Tuesday it will acquire operated natural gas assets in eastern Texas as well as an undeveloped area, which will be bought together with a third party development firm, from an unnamed regional operator under a conditional purchase and sale agreement.

The operated natural gas assets include about $68 million of Proved Developed Producing component, according to the company.

For the undeveloped area valued at about $19 million, Diversified said it will have a 5% stake for $1 million while the third party development firm will acquire the majority for $18 million in cash. The third party will pay directly to the regional operator upon closing of the transaction, Diversified added.

Diversified said it will pay roughly $69 million to the seller for the assets and part of the undeveloped acreage. It will finance the acquisition by issuing new US-dollar denominated ordinary shares to the seller for about $35 million and through new and current liquidity, according to the company.

The acquisition is expected to be completed in Q4, Diversified added.

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