Diversified Energy has completed the acquisition of Maverick Natural Resources, a private oil and natural gas development and production company in Houston, Texas.
The aim of the acquisition, announced in January 2025, is to enhance Diversified Energy’s asset base, density and commodity mix.
In line with the $1.27bn acquisition, Diversified Energy has issued 21,194,213 new ordinary shares, which commenced trading on the New York Stock Exchange and London Stock Exchange as of 17 March.
The company’s total issued share capital has now increased to 80,990,155 shares.
Following the acquisition, Rick Gideon, CEO of Maverick Natural Resources, will assume the role of chief operating officer of the company, effective 18 March 2025.
Maverick’s core assets are centralised in the hydrocarbon-rich plays of Texas and Oklahoma. Key operating assets are based in the Western Anadarko Basin, the Permian Basin and the Ark-La-Tex region of east Texas, accounting for around 90% of the company’s production.
Maverick’s portfolio also features valuable interests in Florida and the Rocky Mountains.
Diversified Energy is engaged in the production, marketing, transportation and retirement of primarily natural gas and natural gas liquids related to its US onshore upstream and midstream assets.
Via its differentiated strategy, Diversified Energy acquires existing, long-life assets, invests in them to enhance environmental and operational performance, and then retires those assets in an environmentally secure manner.
In August 2024, Diversified Energy completed the acquisition of operated natural gas properties and related facilities in eastern Texas, US, from Crescent Pass Energy.
Initially valued at $106m, the final purchase price was amended to $101m after customary adjustments.
“Diversified Energy finalises $1.27bn Maverick acquisition” was originally created and published by Offshore Technology, a GlobalData owned brand.
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