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Investing.com-- Natural gas firm Diversified Energy Company PLC (NYSE:DEC) is in advanced talks to buy Maverick Natural Resources- a private equity owned firm with operations in the Permian Basin, the Wall Street Journal reported on Sunday.
The deal values Maverick at around $1.3 billion, and is Diversified Energy’s biggest buy to date, the WSJ report said.
The move comes amid bets on increased U.S. energy production and fewer restrictions on the industry under President Donald Trump.
Trump declared a national energy emergency last week and called for a ramp-up in domestic oil and gas production, while also scaling back Biden-era climate-related curbs on the industry.
The Permian Basin- located in the southwestern U.S.- is the country’s highest producing oil field, with output estimated at 6.3 million barrels per day in 2024- nearly half of overall U.S. production.