Diversified Energy has signed a definitive agreement to acquire Maverick Natural Resources, owned by energy investor EIG, for approximately $1.27bn to expand its asset base, density and commodity mix.

The combined company will have an enterprise value of approximately $3.8 billion as of signing, a Diversified Energy release stated.

BRIDGEPORT, W.Va. — Natural gas and oil production company Diversified Energy has announced plans to acquire Maverick Natural Resources from EIG Global Energy Partners for $1.275 billion. The move will enhance Diversified’s asset base, commodity mix and operational scale.

Diversified Energy (OTCQX:DEC) +2.6% pre-market Monday after confirming it agreed to acquire Maverick Natural Resources for $1.275B including debt, expanding the company into the oil and gas-rich Permian Basin with multiple zones in the Delaware Basin.

Diversified Energy Company Plc agreed to acquire Texas-based energy producer Maverick Natural Resources to expand its scale as US President Donald Trump makes higher oil production a key priority.

Diversified Energy has announced that it has entered into a definitive agreement to acquire Maverick Natural Resources, a portfolio company of EIG, for total consideration of approximately US$1275 million.