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EIG scores big exit as Diversified Energy strikes $1.3bn Maverick deal

Private equity firm EIG Global Energy Partners is set to cash in on its stake in Maverick Natural Resources through a $1.28bn deal with US-based Diversified Energy Company, marking a significant move in the energy sector, according to a report by Reuters.

The acquisition includes approximately $700m in debt, giving the combined entity a total enterprise value of $3.8bn.

The deal is a pivotal step for Diversified Energy as it seeks to bolster its presence in the oil and gas-rich Permian Basin, the world’s largest shale oil-producing region. Maverick’s portfolio includes producing oil fields across West Texas and New Mexico, strategically aligning with Diversified Energy’s focus on natural gas and liquid production.

EIG, which has owned Maverick since its 2018 restructuring, is expected to retain a 20% stake in the newly combined company, with the partial exit allowing EIG to unlock significant value while maintaining exposure to future growth in the energy sector.

EIG’s exploration of a sale for Maverick, reported by Reuters in August, pegged the company’s valuation at nearly $3bn, including debt.

Post-acquisition, Diversified Energy CEO Rusty Hutson will remain at the helm of the combined entity, while Chair David Johnson will continue in his leadership role.

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