Diversified Energy and financial partner Carlyle have completed the $550 million acquisition of Oklahoma-focused producer Canvas Energy. The transaction expands Diversified’s footprint across the Anadarko Basin and significantly increases its operated legacy production base in Oklahoma.
Canvas, formerly Chaparral Energy, held approximately 250,000 net acres concentrated in the STACK play, producing an average of 147,000 MMcfe/d (24,000 boe/d). With the acquisition, Diversified now controls roughly 1.6 million net acres across the state.
Why It Matters
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Large-scale PDP consolidation
The transaction supports Diversified’s strategy of aggregating long-life, low-decline producing assets rather than drilling new wells.
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STACK-position expansion
Canvas’ 250,000 net acres add inventory optionality and future development locations in Oklahoma’s STACK fairway.
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Capital-backed acquisition model
Carlyle and Diversified have committed up to $2 billion for PDP acquisitions, signaling continued appetite for non-operated or legacy production portfolios.
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Multi-basin growth momentum
This marks Diversified’s second major acquisition of the year, following its $1.3 billion purchase of Maverick Natural Resources’ Anadarko and Permian assets.
What the Map Shows
The Energy DataLink map compares Canvas Energy’s STACK acreage (red) with Diversified’s broader Oklahoma footprint (green):
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STACK Play: Dense Canvas acreage across Kingfisher, Canadian, and Blaine counties, overlapping Diversified’s PDP-heavy leasehold.
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Western Anadarko: Diversified’s larger legacy position extending through Caddo, Grady, and Comanche counties.
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Integrated corridor: The combined acreage forms a continuous midcontinent band of low-decline production and future optionality.
These layers show how the acquisition consolidates PDP assets and strengthens Diversified’s position across Oklahoma.
A Deeper Dive with DataLink
Using Energy DataLink, users can:
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Filter Acreages by operator to separate Diversified’s legacy holdings from Canvas’ STACK portfolio.
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Overlay Natural Gas Pipelines to evaluate takeaway options and midstream proximity across the Anadarko corridor.
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Review historical well performance and compare decline curves across STACK and western Anadarko PDP wells.
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Identify undeveloped acreage clusters to assess future drilling or farm-out optionality.
Map well-by-well production history to benchmark asset maturity and evaluate acquisition potential in surrounding counties.
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