Diversified Energy Co (NYSE: DEC) said on Monday that it would acquire private equity-owned Maverick Natural Resources in a deal valued at $1.28 billion, including debt.
Diversified Energy said that it expected to take on nearly $700 million of Maverick Natural Resources’ debt, while the combined company would be valued at about $3.8 billion.
EIG Global Energy Partners, which currently owns Maverick Natural Resources, is to own about 20% of the new entity.
Stock Performance
The shares of Diversified Energy Co (DEC) closed 2.59% ($0.42) lower at $15.77 in New York on Friday.
The company’s total market cap now stands at $825.217 million.
The shares of Diversified Energy Co (DEC) went up 12.00% in 2024, compared with a 13.32% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have lost 6.13% of their value so far this year.
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