Diversified Energy Amends 8-K for Sheridan Deal, Reveals Reserve Data and $236M Adjusted Price

summarizeSummary

Diversified Energy amended its 8-K for the Sheridan acquisition, disclosing proved reserves of 340 Bcf gas, 17.8 MMBbl NGLs, and 5.2 MMBbl oil with a standardized measure of $344.2M, and adjusting the purchase price to $236M.

check_boxKey Events · M&A and Partnerships · DEC

• Sheridan Acquisition Reserve Data Disclosed

  Proved reserves as of Dec 31, 2025: 340 Bcf natural gas, 17.8 MMBbl NGLs, 5.2 MMBbl oil. All proved developed, no undeveloped reserves.

• Standardized Measure of $344.2M

  Discounted future net cash flows from proved reserves at 10% is $344.2 million, compared to the adjusted purchase price of $236 million.

• Purchase Price Adjusted to $236M

  Cash consideration revised from the initially reported $248 million to approximately $236 million, inclusive of customary purchase price adjustments.

• SEC Relief from Full Financials

  SEC staff permitted substitution of unaudited oil and gas reserve information in lieu of historical and pro forma financial statements required by Item 9.01.

auto_awesomeAnalysis · DEC · Energy & Transportation

This amendment offers the first glimpse into the reserves backing the April 2026 Sheridan acquisition. Unaudited figures show proved reserves of 340 Bcf of natural gas, 17.8 MMBbl of NGLs, and 5.2 MMBbl of oil, carrying a standardized measure of $344.2 million. Meanwhile, the cash consideration was trimmed to $236 million from the initially reported $248 million. Rather than full historical and pro forma financials, the SEC granted relief to substitute this reserve information—a critical metric for valuing an E&P acquisition, making this a material update to the original deal announcement.