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oilmonster
Natural Gas January 28, 2025 06:55:45 AM

Diversified Energy Signed Agreement to Acquire Maverick Natural Resources

Anil
Mathews
OilMonster Author
Also, the acquisition introduces a new Permian asset base in the Northern Delaware Basin to its portfolio.
Diversified Energy Signed Agreement to Acquire Maverick Natural Resources

SEATTLE (Oil Monster): Diversified Energy declared that it has finalized a deal to pay about $1.27 billion to purchase Maverick Natural Resources. The deal is expected to close in the first half of 2025.

The agreement is consistent with Diversified's plan to use joint ventures to sustain a number of development prospects. Additionally, the purchase expands its portfolio by adding a new Permian asset base in the Northern Delaware Basin.

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The combined company will be valued at about $3.8 billion. It is anticipated to have a production capacity of roughly 1.2 billion cubic feet per day (bcf/d) of natural gas equivalent, operating over five distinct zones. It should be mentioned that Maverick's production is projected to be around 350 million cubic feet per day (mcf/d), while Diversified's production is now about 850 mcf/d. Additionally, it is anticipated that the merged company will generate around $1.8 billion in revenue and $345 million in free cash flow.

The deal has already received clearance from Diversified Energy's board. Six of the eight directors on the board will come from Diversified's present board following the acquisition.

Rusty Hutson, Jr., a diversified CEO, stated that the acquisition gives the business excellent resources.


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