This effectively doubles the company’s production to more than 60,000 barrels of oil per day.
As a result, Diversified assumes operation of select
The existing workforce will be retained, with more than 250 employees joining the company, company officials said.
“The addition of these high-quality assets to our growing portfolio and their accretive impact on earnings are tangible results that benefit our shareholders, and represents a significant milestone in the evolution of our clearly stated strategy,” Hutson said. “We now turn our attention to the optimization and integration of these assets into our expanding operations.”
The purchase was funded through an extension to the Company’s existing credit facility, which increased to $1 billion from $500 million, and a successful capital raise of $250 million.
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