08:11 AM EDT, 07/10/2024 (MT Newswires) -- Diversified Energy Company ( DEC ) said Wednesday it has agreed to acquire high-working interest, operated natural gas properties and related facilities in eastern Texas from Crescent Pass Energy for $106 million.

The assets are expected to add 38 million cubic feet of natural gas per day to net production and are close to the company's previously acquired East Texas assets.

The company plans to fund the acquisition through a combination of the issuance of about 2.4 million new ordinary shares directly to the seller, a senior secured bank facility, as well as existing and expanded liquidity from its recently increased borrowing capacity.

The company expects to close the acquisition in Q3.

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