Appalachia-focused natural gas producer Diversified Energy Co. plc on Friday announced its second transaction in as many months to expand into a different gassy region of the United States.

Central focus area

Birmingham, AL-based Diversified said it has entered into a conditional agreement to acquire upstream assets in the Barnett Shale of North Texas from Blackbeard Operating LLC for a gross purchase price of $180 million (estimated $166 million net).

The assets would add about 475 Bcfe of proved developed producing (PDP) reserves to Diversified’s portfolio, the company said.

If the acquisition goes forward, Diversified would be adding net production of about 96 MMcfe/d (82% natural gas).

“The company will complete its ongoing diligence work prior to confirming the final terms...