-- Diversified Energy Co. (DEC.L) is teaming up with investment firm Carlyle for the $1.18 billion acquisition of certain Camino Natural Resources assets in the US.
The deal covers a bolt-on portfolio of oil and natural gas properties and associated assets in the Anadarko Basin of the US state of Oklahoma, according to a Thursday filing. The targeted assets are contiguous to existing assets in the same state of the listed energy company.
Diversified expects to spend $210 million for the acquisition. The company agreed to establish a special-purpose vehicle with Carlyle for the transaction, with the investment firm holding majority ownership and it owning a minority stake.
Completion is expected in the third quarter, subject to customary closing conditions.