Diversified Energy Agrees $1.8 Billion Permian Deal

M&A · PartnershipCorporate Action
โดย Yahoo Finance·US·Read original
Summary · why it matters

Diversified Energy Company PLC has agreed its biggest-ever deal, paying $1.8 billion for Permian Basin producer Birch, a move expected to boost production by around 35%. In other corporate news, Galliford Try Holdings PLC has landed a £110 million contract to build a 23-kilometre pipeline for Severn Trent to improve water quality in the River Mease. Sunda Energy PLC saw a major upgrade at its Halcon prospect offshore the Philippines, now assigned 8 trillion cubic feet of gas resources, giving Sunda a net share of 3 Tcf. Rockfire Resources PLC reported promising early processing tests at its Molaoi zinc project in Greece, with ore classed as "Medium-Hard" and within normal grinding energy requirements. Solvonis Therapeutics PLC received a key European patent allowance for its PTSD drug candidate SVN-114, calling it a vital milestone. Futura Medical PLC has initiated a formal sale process for the business behind its Eroxon gel and raised £1.6 million to fund the process.

Impact on stocks 8

Energy▲ · 2 stocks
Sunda Energy Plc
SNDA
▲ PositiveSupplyrelevance

Major upgrade at its Halcon prospect, now assigned 8 Tcf gas resources with a net 3 Tcf share to Sunda.

Health Care▲ · 1 stocks
Futura Medical
FUM
± MixedCapitalrelevance

Initiated a formal sale process for the Eroxon business and raised £1.6m to fund it.

Industrials▲ · 1 stocks
Galliford Try PLC
GFRD
▲ PositiveDemandrelevance

Landed a £110m contract to build a 23-km pipeline for Severn Trent.

Critical Materials & Supply Chain▲ · 1 stocks
Rockfire Resources plc
ROCK
▲ PositiveTechnologyrelevance

Promising early processing tests at its Molaoi zinc project, ore classed Medium-Hard within normal grinding energy.

Biotech & Genomic Medicine▲ · 1 stocks
Solvonis Therapeutics plc
SVNS
▲ PositiveRegulationrelevance

Received a key European patent allowance for its PTSD drug candidate SVN-114, a vital milestone.

Climate Adaptation & Water▲ · 1 stocks
Severn Trent PLC
SVT
▲ PositiveDemandrelevance

Galliford Try landed a £110m contract to build a pipeline for Severn Trent to improve River Mease water quality.

Energy Transition & Power Demand▲ · 1 stocks

Off-coverage companies 1

Birch Permian HoldingsPrivate± Mixed
Capitalrelevance

Diversified Energy agreed to pay $1.8bn for Permian producer Birch, boosting production ~35%; Birch is the acquisition target.

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