Maverick Natural Resources, LLC, a subsidiary of Diversified Energy Company PLC, has released its financial results for the year ended December 31, 2024. The company reported total oil, natural gas, and NGL revenues of $767.879 million, down from $893.898 million recorded in 2023. This decrease in revenues was attributed to a decline in oil, natural gas, and NGL sales. The company's results of operations from natural gas and oil-producing activities showed a result of $174.583 million in 2024, compared to $236.912 million in 2023. The realized gain on commodity derivatives in 2024 was $31.376 million, a reversal from a loss of $46.722 million in the previous year. Significant business operations update includes the merger agreement with Diversified Energy Company PLC. Under this agreement, Diversified acquired all outstanding equity interests of Maverick in exchange for approximately 21.2 million shares of Diversified common stock and cash consideration of approximately $197 million. The transaction was completed on March 14, 2025, making Maverick a wholly-owned subsidiary of Diversified. In addition, in January 2025, Maverick received a favorable court verdict in a civil claim against another operator, resulting in an award of $5.6 million to the company, subject to final appeals by the opposing party.
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