Diversified Energy Co. has agreed to acquire Canvas Energy Inc., a private oil and natural gas exploration and production company, for $550 million. Diversified said in a release Sept. 8 that the deal adds ‘complementary’ operated producing properties and acreage positions in the Central Anadarko basin in Oklahoma, concentrated in Major, Kingfisher, and Canadian Counties. Canvas Energy, headquartered in Oklahoma City, rebranded in 2022 from Chaparral Energy Inc. As Chaparral Energy, the company completed a financial restructuring and emerged from Chapter 11 as a private, non-SEC filing company (OGJ Online, Aug. 17, 2020). Current net production from the assets is about 147 MMcfed (24,000 boe/d - 43% natural gas, 57% liquids), which includes about 23 wells that have been turned to sales in the last 12 months. Also included is “commercially attractive undeveloped acreage with meaningful development locations,” Diversified said.