Diversified Energy has agreed to acquire operated natural gas and midstream assets in Virginia, West Virginia and Alabama in the southern Appalachian Basin for about $45 million, the company said Jan. 6.
The bolt-on from Summit Natural Resources includes 300 net producing wells in the Appalachia region, which will account for about 60% of the asset’s 12 MMcfe/d (2,000 boe/d) average production.
The deal also includes 265 net producing coal mine methane wells located within Alabama, making up 40% of production. The wells are proximate to Diversified’s corporate headquarters in Birmingham, Alabama.