Private equity giant EIG Global Energy Partners has struck a $1.28bn deal with Diversified Energy Company, marking a significant move in the energy sector.
The acquisition, which includes $700m in debt, values the combined entity at $3.8bn.
The deal is a major step for Diversified Energy as it expands its presence in the Permian Basin, the world’s largest shale oil-producing region. Maverick Natural Resources’ portfolio, encompassing oil fields in West Texas and New Mexico, complements Diversified Energy’s focus on natural gas and liquid production.
EIG, which restructured Maverick in 2018, will retain a 20% stake in the new entity. This approach allows EIG to monetise a significant portion of its investment while remaining positioned for future growth in the energy sector. Earlier reports valued Maverick at nearly $3bn, including debt.
Post-acquisition, Diversified Energy’s CEO Rusty Hutson will continue to lead the combined company, with Chair David Johnson maintaining his leadership role. The transaction underscores EIG’s ability to achieve strategic exits while fostering opportunities for continued value creation in the energy market.
Source: Private Equity Wire
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