Energy company finishes the acquisition of Maverick

Diversified Energy Company PLC has recently finalized the acquisition of Maverick Natural Resources, marking a significant milestone for the independent energy company. The acquisition was approved by the shareholders of the Company at a general meeting on March 10, 2025, with the issuance of 21,194,213 new ordinary shares as part of the deal.

The Consideration Shares issued as part of the acquisition will be listed on the New York Stock Exchange and will hold the same rank and value as Diversified’s existing ordinary shares. The application has been made for the Consideration Shares to be listed on the Official List and traded on the London Stock Exchange, with an expected admission date of March 17, 2025.

With the completion of the acquisition, there will be a change in governance and leadership within the company. Rick Gideon, the CEO of Maverick Natural Resources, will transition into the role of Chief Operating Officer (COO) for Diversified, effective March 18th, 2025. This strategic move aims to strengthen the company’s operational capabilities and enhance its leadership team.

Aside from the leadership changes and completion of the acquisition, no other significant alterations have occurred relating to the deal. The total number of ordinary shares and voting rights in the company as of March 14, 2025, stands at 80,990,155, with each share carrying one voting right. Shareholders can use this figure to determine their interest in the company based on the Financial Conduct Authority’s disclosure rules.

In facilitating this acquisition, Citi acted as the financial and transaction advisor to Diversified, with additional advisory support from KeyBanc Capital Markets, Truist, and Stifel. Legal advisory services were provided by Gibson, Dunn & Crutcher LLP and Latham & Watkins (London) LLP for Diversified, while Jefferies Securities and Kirkland & Ellis LLP supported Maverick and EIG.

For further inquiries or information about Diversified Energy Company PLC, individuals can contact the company via the provided contact details. Diversified is a prominent publicly traded energy company that focuses on natural gas and liquids production, transportation, marketing, and well retirement. The completion of the Maverick Natural Resources acquisition represents a strategic move for the company’s growth and expansion in the energy sector.