Diversified Energy Completes Acquisition of Maverick
Deal News | Mar 14, 2025 | Globenewswire
Diversified Energy Company PLC has announced the successful completion of its acquisition of Maverick Natural Resources. The deal, previously announced earlier this year, includes the issuance of over 21 million new shares, which are set to be listed on the NYSE. This strategic acquisition aligns with Diversified's focus on natural gas and liquids production, as well as their stewardship approach to environmental sustainability. With the close of this acquisition, Rick Gideon, previously CEO of Maverick, will join Diversified as COO. The transaction included financial advisory from Citi, additional advisory from KeyBanc, Truist, and Stifel, and legal services from firms such as Gibson, Dunn & Crutcher LLP and Latham & Watkins LLP for Diversified, with Jefferies and Kirkland & Ellis LLP advising Maverick and EIG. This acquisition is indicative of Diversified's strategic emphasis on acquiring long-life assets while enhancing environmental and operational performance.
Sectors
- Energy
- Financial Services
- Legal Services
Geography
- United States – This geographic classification is relevant as Diversified Energy is listed on the NYSE, and the acquisition targets a company based in the U.S.
- United Kingdom – Diversified Energy is also listed on the LSE, highlighting its presence and operations in the UK market.
Industry
- Energy – The article pertains to companies operating in the natural gas and liquids production sector, specifically focusing on Diversified Energy Company's strategic acquisition.
- Financial Services – Due to the involvement of financial advisors and the issuance of new shares, financial services such as advisory and capital markets play a role in this transaction.
- Legal Services – Legal services are relevant as multiple law firms provided legal advisory for the acquisition process.
Financials
- 21,194,213 shares – Number of new ordinary shares issued by Diversified Energy as consideration for the acquisition.
- 80,990,155 shares – Total number of ordinary shares in Diversified Energy after the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Diversified Energy Company PLC | Acquirer | Company | An independent energy company focusing on natural gas and liquids production. |
| Maverick Natural Resources | Target Company | Company | The acquired entity in the transaction. |
| Citi | Financial and Transaction Advisor | Company | Served as financial and transaction advisor to Diversified Energy. |
| KeyBanc Capital Markets, Truist, Stifel | Additional Financial Advisors | Company | Provided additional financial advisory services to Diversified Energy. |
| Gibson, Dunn & Crutcher LLP | Legal Advisor | Company | Provided legal advisory services for Diversified on the acquisition. |
| Latham & Watkins LLP | Legal Advisor | Company | Provided legal advisory services for Diversified Energy on the acquisition. |
| Jefferies Securities | Financial Advisor | Company | Provided financial advisory services to Maverick and EIG. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Provided legal advisory services for Maverick and EIG. |
| Rick Gideon | Chief Operating Officer | Person | Former CEO of Maverick, now COO of Diversified Energy. |