Diversified Energy, a U.S.-based company, is in early talks to acquire privately held Birch Resources, as it looks to further expand into the oil and gas-rich Permian Basin.
Expansion into the Permian Basin
The potential acquisition follows Diversified Energy’s March 2025 purchase of Maverick Natural Resources, which also had assets in the Permian Basin, for $1.28 billion including debt.
Birch Resources, backed by investment firm Elliott Investment Management, operates in the Permian Basin, the largest oilfield in the U.S. The company was formed out of energy assets from the 2018 Chapter 11 bankruptcy agreement of Breitburn Energy Partners.
A potential all-cash transaction would value Birch at more than $1.7 billion, according to Bloomberg News. However, Diversified Energy stated that no agreement has been reached and there is no certainty that any transaction will occur.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
