Investing.com -- Diversified Energy DEC has agreed to acquire Maverick Natural Resources in what is set to be its largest acquisition to date, according to the WSJ.

The deal, which was announced on Monday, values Maverick at approximately $1.3 billion, inclusive of debt.

Diversified Energy, a company based in Birmingham, Alabama, specializes in the acquisition and operation of mature natural-gas wells. As of Friday, the company had a market value exceeding $800 million.

With the addition of Maverick, the combined entity would be valued at around $3.8 billion, including debt. This calculation includes the assumption of about $700 million of Maverick’s existing debt by Diversified Energy.

Maverick Natural Resources is a Houston-based oil and natural-gas producer with core operations spread across Texas and Oklahoma, including the Western Anadarko Basin. The company is currently owned by EIG Global Energy Partners, an investment firm with a focus on energy and infrastructure.

Maverick came into being in 2018, following the bankruptcy of Breitburn Energy Partners. Post-bankruptcy, Breitburn was majority-owned by EIG-controlled funds, rebranded as Maverick, and operated with significantly reduced debt.

The current deal will see EIG Global Energy Partners retain a significant share in the merged company. Diversified Energy's Chief Executive, Rusty Hutson Jr., will continue to lead the entity.

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