Birmingham, Ala.-based Diversified Energy said Monday it agreed to acquire Maverick Natural Resources, Houston-based private oil and gas company, for $1.275 billion (including debt). Core areas for Maverick are Permian Basin, western Anadarko and Ark-La-Tex. About 90 percent of Maverick’s production comes from these three areas. Diversified’s core areas are Permian Basin, Appalachia, western Anadarko, Barnett and Ark-La-Tex.
The combined company will have an enterprise value of about $3.8 billion and operate in these five regions with estimated combined production of about 1.2 billion cfd (200,000 boed). Closing is expected in first half of 2025.
Rusty Hutson, Jr., CEO, said, “We have a proven track record of unlocking value from acquisitions while maintaining our commitment to sustainability leadership, and this acquisition provides us with great assets and employees that complement this strategy. The acquired producing assets have demonstrated leading well performance and are a natural fit with our operating advantage and existing acreage.”