Diversified Energy Acquires Texas Natural Gas Field

Oil and gas site owner Diversified Energy Company has bought several operated natural gas wells located within East Texas for $68m (£52.3m). The FTSE 250 firm bought the assets from a regional operator. The “significant” PDP (proved developed producing) reserve was part of a wider sale in the area. A third-party development company will also buy an additional amount of undeveloped acreage from the regional seller for about $19m (£14.6m). Diversified said it would also buy a minority five-percent stake in the land for $1m…