en.Wedoany.com Reported - Diversified Energy and Carlyle’s Global Credit platform announced they will jointly acquire a portfolio of oil and natural gas assets located in the Anadarko Basin of Oklahoma, USA, from Camino Natural Resources. The transaction is valued at approximately $1.2 billion, subject to customary closing adjustments.
Through this acquisition, Diversified expects to add over 100 undeveloped drilling locations to its current development area. Upon completion of the transaction, the company's total locations held in Oklahoma will exceed 450, while Camino will retain its Chickasha development area.
This collaboration expands the partnership established between the two parties in 2025, integrating Carlyle’s experience in asset-backed financing with Diversified’s operational capabilities, focusing on investing in producing energy resources across the United States. Due to the contiguous nature of the acquired acreage, Diversified anticipates operational efficiency gains and cost synergy opportunities.
Regarding funding arrangements, Carlyle has designed a customized asset-backed securitization structure. The two companies will establish a Special Purpose Vehicle (SPV) for this purpose, which will hold the acquired producing assets and issue debt instruments backed by the associated cash flows. Carlyle will hold a controlling interest in the SPV, while Diversified will retain a minority equity stake and be responsible for asset operations and securitization oversight. The undeveloped assets will remain wholly owned by Diversified and will not be included in the SPV structure.
Diversified itself will contribute approximately $210 million, funded from its senior secured bank credit facility, with the specific amount subject to customary purchase price adjustments. This transaction structure is designed to match long-term financing with asset characteristics without requiring the company to issue new equity.
Akhil Bansal, Head of Carlyle’s Asset-Backed business, stated: “This transaction demonstrates what can be achieved when structuring expertise and long-term capital are combined with a great operator.” He also noted: “We are proud to partner with Diversified to tailor a financing solution for these assets and view this as a blueprint for Carlyle’s asset-backed investments.”
The target assets cover approximately 101,000 net acres, with current net production of roughly 300 million cubic feet equivalent per day, composed of 55% natural gas, 30% natural gas liquids, and 15% oil. Key metrics include a price of approximately $23,000 per thousand barrels of oil equivalent per day of production and a recent EBITDA multiple of approximately 3x. The transaction is expected to close in the third quarter of 2026, subject to the satisfaction of customary conditions.
Rusty Hutson, Jr., CEO of Diversified, stated: “We are pleased to partner once again with Carlyle to acquire high-quality assets that complement our existing operations in Oklahoma.” He added: “This acquisition brings meaningful scale to the portfolio and reflects our continued focus on acquiring and optimizing long-life, cash-generative assets. We see significant opportunities to enhance operational efficiencies and drive long-term value through this transaction.”
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