Diversified Energy, Llc signed a conditional sale and purchase agreement to acquire certain gas and oil assets in the Appalachian Basin from Titan Energy, LLC (OTCPK:TTEN) for $84.2 million on May 4, 2017. The consideration is subject to adjustments. The transaction will be financed through combination of a $110 million senior secured credit facility and the placing of Diversified Gas & Oil shares of $35 million. Diversified Gas & Oil signed a term sheet for a new debt facility with Angelo, Gordon & Co.'s energy lending group which comprises a $110 million senior secured credit facility. The transaction is subject to approval by Diversified Gas & Oil's shareholders, third party approval and admission of the enlarged share capital to trading on AIM. As on June 30, 2017, the shareholders of Diversified Gas & Oil's approved the transaction. Transaction is expected to close in late June 2017. The transaction is expected to be both cash and earnings accretive. As of June 30, 2017, DGOC completed the acquisition of $72.8 million of assets. The remaining $11.4 million of assets are held within a public partnership structure which will be transferred to Diversified Gas & Oil's after completion of the transaction which is now expected to be on or before September 30, 2017. As of October 2, 2017, the remaining $11.4 million of assets have been transferred to Diversified Energy. Russell Cook and Katy Birkin of Smith & Williamson Corporate Finance Limited acted as the financial advisors and Ben Romney, Chris Judd and Henry Wilson of Buchanan acted as the financial public relations advisors and Peter Krens and Edward Haig-Thomas of Mirabaud Securities LLP acted as broker for Diversified Gas & Oil PLC. Detring Energy Advisors marketed Titan’s Appalachian assets and Omar Samji of Jones Day acted as legal advisor for Titan Energy, LLC. Jim McLaughlin of Maynard Cooper & Gale, P.C. acted as legal advisor to Diversified. Diversified Energy, Llc completed the acquisition of certain gas and oil assets in the Appalachian Basin from Titan Energy, LLC (OTCPK:TTEN) on October 2, 2017.