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ConocoPhillips has announced a major sale to Alabama-based Diversified Energy Company. The $240 million sale is for Mid-continental assets include 1500 producing wells in Oklahoma and Texas.

Diversified wants to strengthen its presence in the central region of the country and with this acquisition, it will cement a strong influence in the area. Since May 2021, Diversified has been on a buying spree, adding six new acquisitions; this is the second one specifically in the Mid-continental region.

Diversified says the purchase is consistent with their strategy to provide improved well performances, complimentary mergers, and lower emissions to their service area. The company has promised to continue the employment of former ConocoPhillips staff that compliment Diversified’s staffing.