The US$575mln deal more than doubles the group’s output, daily production rates are set to increase by 115% to over 60,000 barrels of oil equivalent per day.
It was paid for via the company’s cash resources, supported by a US$240mln equity raise, and, an expanded revolving credit facility - which runs up to US$1bn, with a current borrowing base of US$600mln.
Rusty Hutson, DGOC chief executive, said: "Delivering on our stated objectives has been a guiding principle since our admission to AIM in February 2017.
“The addition of these high-quality assets to our growing portfolio and their accretive impact on earnings are tangible results that benefit our shareholders and represent a significant milestone in the evolution of our clearly stated strategy.
“Completing a transaction of this size further increases DGO's visibility of the preferred and capable purchaser of similar assets.”
He added: “We now turn our attention to the optimisation and integration of these assets into our expanding operations.
“To help accomplish this task, I am excited to welcome to Diversified the more than 250 exceptional operations personnel who have cared for these assets for years and in many cases, for decades.”