Maverick Natural Resources
Diversified Energy Company PLC acquires, operates, and responsibly retires mature natural gas and NGL wells across U.S. Appalachian and Central regions, serving utilities, industrial buyers, LNG markets, and state governments through integrated upstream, midstream, and well-plugging operations.
- Company typePublic
- Founded2000
- HeadquartersHouston, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Maverick Natural Resources does
Diversified Energy Company PLC is a UK-incorporated, NYSE- and LSE-listed independent energy producer that acquires, operates, and retires mature, producing natural gas and natural gas liquids wells onshore in the U.S. Appalachian and Central regions (Pennsylvania, West Virginia, Ohio, Kentucky, Tennessee, Virginia, plus Louisiana, Oklahoma, and Texas). Founded in 2000 with a handful of wells in north central West Virginia, the company has grown via acquisition to operate more than 50,000 wells and approximately 17,000 miles of owned pipeline, producing 135,000-144,000 boepd in 2022-2023 and earning a top-20 US natural gas producer ranking. Its differentiated strategy targets low-decline, non-core assets divested by large exploration and production companies, capturing predictable cash flows and applying operational stewardship rather than exploration risk.
The company's operating stack is anchored by the proprietary Smarter Asset Management system for well performance analysis and field-driven optimization, supplemented by an extensive Leak Detection and Repair program deploying 600 handheld methane detectors alongside contracted aerial LiDAR surveys (covering ~60% of pipeline assets). Asset retirement is vertically integrated through the Next LVL Energy subsidiary, which operates 15 dedicated rigs (14 P&A plus one service rig) and serves as the largest well retirement provider in the Appalachian region. The company has earned OGMP 2.0 Gold Standard Pathway designation (UN Environment/EDF/CCAC), reduced methane intensity by 25% since its 2020 baseline, and targets net-zero by 2040.
The business model combines acquisition-led upstream growth with commodity-based revenue (natural gas and NGL sales) supplemented by an active hedging program that locks in approximately 85% of production at a ~$3.83/Mcf floor, plus dividend distributions (17 cents per share, $144 million paid in 2022). Revenue is generated through direct marketing to utilities, industrial customers, LNG markets, and the Midcontinent petrochemical complex via the owned midstream network, while a parallel professional services revenue stream emerges from Next LVL Energy's external P&A work for state governments and third-party E&Ps. ESG-aligned asset-backed securitization ($1.1 billion completed in 2022 at 5.7% weighted-average) and the landmark Mountain State Plugging Fund partnership with the State of West Virginia (initial $70 million commitment expected to grow to $650 million) illustrate how the capital structure, regulatory relationships, and revenue model reinforce one another.
Maverick Natural Resources firmographics
Firmographics- Name
- Maverick Natural Resources
- Legal name
- Diversified Energy Company PLC
- Website
- https://mavresources.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Diversified Energy Company PLC acquires, operates, and responsibly retires mature natural gas and NGL wells across U.S. Appalachian and Central regions, serving utilities, industrial buyers, LNG markets, and state governments through integrated upstream, midstream, and well-plugging operations.
- Ownership category
- akta.pro rank
Maverick Natural Resources industry classification
Industry- Product category
- Upstream Natural Gas Production
- NAICS
- Natural Gas Extraction (21113), Natural Gas Extraction (211130), Pipeline Transportation of Natural Gas (4862)
- SIC
- Natural Gas Transmisison & Distribution (4923), Natural Gas Transmission (4922)
- akta.pro primary industry
- Coalbed Methane (CBM) / Coal Seam Gas (CSG) (EUAAAAAD)
- akta.pro secondary industries
- Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH), Asset Recovery, Surplus & Decommissioning Services (EUAIANAD)
Keywords
Where Maverick Natural Resources is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Maverick Natural Resources business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Natural Gas Production and Sales: Production and sale of natural gas from owned wells. Production averaged 135,000-144,000 boepd in 2022-2023. Company hedged approximately 85% of production at floor of approximately $3.83/Mcf.
- Natural Gas Liquids (NGL) Sales: Marketing and sale of natural gas liquids extracted from production streams.
- Midstream Transportation and Marketing: Owns approximately 17,000 miles of pipeline network for transportation and marketing of produced natural gas.
- Well Plugging and Abandonment Services: Provides P&A services to states and third-party companies through Next LVL Energy subsidiary. Expanded from internal plugging to serving external E&Ps and orphaned well programs.
- Asset-Backed Securitization: ESG-aligned ABS transactions raising capital backed by producing assets. Completed $1.1 billion in ABS transactions in 2022 at 5.7% weighted-average interest rate.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Hedged commodity pricing at approximately $3.83/Mcf floor |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Maverick Natural Resources product offering
Product offeringCore offering
Maverick Natural Resources (Diversified Energy Company PLC) acquires, operates, and retires mature natural gas and natural gas liquids producing assets in the U.S. Appalachian and Central regions. The company runs a vertically integrated model spanning upstream production, midstream transportation and marketing via its owned pipeline network, and end-of-life well plugging and abandonment services through its Next LVL Energy subsidiary.
Product overview
Diversified Energy Company PLC is an independent energy company engaged in the production, marketing, transportation, and retirement of primarily natural gas and natural gas liquids from U.S. onshore upstream and midstream assets. The company operates a differentiated strategy of acquiring existing mature assets, optimizing their performance through stewardship practices, and responsibly retiring them at end of life. Core operations include upstream production in Appalachia and Central regions (Louisiana, Oklahoma, Texas), midstream transportation and marketing, and the Next LVL Energy subsidiary for well plugging and abandonment services.
Differentiator
Problem solved
Functional benefit
Products and services
- Natural Gas and Natural Gas Liquids Production Production and sale of natural gas and natural gas liquids from owned mature wells in the U.S. Appalachian and Central regions, sold to utilities, industrial customers, LNG markets, and petrochemical complexes.
- Midstream and Marketing Services Transportation and marketing of natural gas and NGLs through an owned network of approximately 17,000 miles of pipeline, with interconnections to regional infrastructure for access to Gulf Coast LNG markets and Midcontinent petrochemical complex.
- Next LVL Energy Well Plugging and Abandonment Services Plugging and abandonment services for orphaned and end-of-life oil and gas wells, operated through 15 dedicated rigs (1 service rig and 14 plugging rigs) and a training center; serves state governments and E&P companies in the Appalachian Basin.
Quantifiable outcome
- Achieved approximately 50% cash margins for fifth consecutive year
- +7 more outcomes
Companies that use Maverick Natural Resources
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles4 records
Maverick Natural Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Maverick Natural Resources partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Gold & Blue EnterprisescorePartnership for fifth annual youth soccer camp at Herbert Hoover High School in Elkview, WV. 100 girls participated in free camp coached by WVU Women's Soccer Team members.
- West Virginia University FootballcoreFifth annual free youth football camp hosting 230 students at Milan Puskar Stadium with WVU football players providing coaching and mentorship.
- State of West VirginiacoreMountain State Plugging Fund partnership - groundbreaking $70 million initial commitment expected to grow to $650 million to guarantee safe retirement of all 20,179 Diversified wells in West Virginia at no cost to taxpayers. Insurance guaranteed by OneNexus.
- West Virginia University AthleticscoreFive-year extension through 2031 of Official Energy Partner sponsorship including Diversified Energy Terrace and other naming rights at Milan Puskar Stadium. Supports Mountaineer Athletic Club, scholarships, and internship programs for minority and female student-athletes.
- West Virginia State University Research and Development CorporationminorPartnership to plant 10,263 trees in West Virginia to replace trees removed during pipeline construction. Includes participation by FFA chapters for educational component.
- Next Level Energy, Nick's Well Plugging, Contractor Services Inc.coreThree P&A companies acquired in 2022 to expand vertical integration of well retirement operations and control costs of internal plugging requirements. Combined with existing assets to create largest asset retirement provider in Appalachian region.
- Operation WarmminorPartnership to provide 4,344 brand-new winter coats to students across West Virginia, Ohio, and Pennsylvania through Philadelphia-based nonprofit.
- Bridger PhotonicscoreContracted for aerial LiDAR surveys of 11,000 miles of pipeline infrastructure for methane leak detection using Light Detection and Ranging technology.
- Mountaineer Sports Properties/LEARFIELDcoreUniversity's athletics multimedia rightsholder that secured the comprehensive athletics sponsorship extension with Diversified Energy.
Scale indicators14 records
Recent moves5 records
Expansion highlights6 records
Maverick Natural Resources competitors and assessment
Company assessmentBroad incumbents
- Expand Energy Corporation: Post-Chesapeake/Southwestern merger, the largest US natural gas producer with significant Appalachia (Marcellus/Utica) and Haynesville exposure. Comparable as a major Appalachian gas producer and LNG market supplier, though much larger and focused on core development.
- EQT Corporation: Largest US natural gas producer and dominant Appalachia operator. Comparable as a major Appalachian gas producer and a known seller of mature wells to DEC, but operates on an upstream growth-and-development model rather than DEC's mature-asset acquisition strategy.
- Coterra Energy: Diversified US E&P with significant Appalachian natural gas exposure (legacy Cabot/Chesapeake assets), plus Permian and Anadarko operations. Comparable for its Appalachian gas production and capital-return orientation, though Coterra is multi-basin and operates a conventional development model.
Regional players
- Gulfport Energy Corporation: Independent natural gas and NGL producer focused on the Utica and SCOOP plays in Appalachia and Oklahoma. Comparable on basin overlap and gas-weighted production profile, though smaller in scale and operating rather than acquiring mature assets.
Others
- Black Stone Minerals, L.P. US mineral and royalty interest owner with significant Appalachia exposure. Adjacent peer sharing DEC's mineral owner royalty payment model, providing a benchmark for the passive-income side of DEC's stakeholder mix.
Direct peers
- CNX Resources Corporation: Low-cost Appalachian natural gas producer operating across PA and WV with a focus on responsible operations. Directly comparable in basin and product mix, with overlapping ESG and methane-management initiatives similar to DEC's stewardship model.
- Range Resources Corporation: Independent Appalachian natural gas and NGL producer focused on the Marcellus and Utica shales. Comparable as a natural gas-focused upstream peer serving overlapping midstream and LNG markets, though it operates a development model rather than acquiring mature wells.
- Antero Resources: Large independent Appalachian natural gas, NGL and condensate producer with integrated midstream. Highly comparable on customer base (utilities, LNG, petrochemicals) and geographic overlap, though Antero focuses on core shale development rather than mature-well aggregation.
- Northern Oil and Gas Inc. Non-operated working interest acquirer focused on buying mature and minority interests from US operators. Closest comparable to DEC's acquisition-led roll-up model, though Northern focuses on oil-weighted Permian/Bakken rather than Appalachian gas.
Emerging players
- Sitio Royalties Corp. Mineral and royalty interest aggregator across major US basins including Appalachia. Comparable exposure to DEC's mineral-interest-owner relationships and royalty payment flows, though Sitio is non-operating and does not produce hydrocarbons directly.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Maverick Natural Resources social profiles
Digital presenceMaverick Natural Resources compliance and trust
Trust signalCompliance1 record
Maverick Natural Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Maverick Natural Resources leadership team
Management profileNumber of profiles
Profiles2 records
Maverick Natural Resources subsidiaries and ownership
Company hierarchySubsidiaries3 records
Maverick Natural Resources funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Maverick Natural Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Maverick Natural Resources
What does Maverick Natural Resources do?
Maverick Natural Resources (Diversified Energy Company PLC) acquires, operates, and retires mature natural gas and natural gas liquids producing assets in the U.S. Appalachian and Central regions. The company runs a vertically integrated model spanning upstream production, midstream transportation and marketing via its owned pipeline network, and end-of-life well plugging and abandonment services through its Next LVL Energy subsidiary.
Is Maverick Natural Resources a public or private company?
Maverick Natural Resources is a public company. It is classified as public and is currently operating.
When was Maverick Natural Resources founded?
Maverick Natural Resources was founded in 2000. It employs 251 to 500 people.
Where is Maverick Natural Resources based?
Maverick Natural Resources is headquartered in Houston, United States, in the North America region.
How does Maverick Natural Resources make money?
Five revenue lines are on record. Natural Gas Production and Sales are the primary driver. The others are natural Gas Liquids (NGL) Sales, midstream Transportation and Marketing, well Plugging and Abandonment Services and asset-Backed Securitization.
Who are Maverick Natural Resources's main competitors?
Broad incumbents on record are Expand Energy Corporation, EQT Corporation and Coterra Energy. Gulfport Energy Corporation is listed as a regional player. Black Stone Minerals, L.P. is listed as an others. Direct peers are CNX Resources Corporation, Range Resources Corporation, Antero Resources and Northern Oil and Gas Inc.. Sitio Royalties Corp. is listed as an emerging player.
Does Maverick Natural Resources have an API?
No public API is recorded for Maverick Natural Resources.
What industry is Maverick Natural Resources in?
Maverick Natural Resources's product category is Upstream Natural Gas Production. Its primary akta.pro industry code is EUAAAAAD, Coalbed Methane (CBM) / Coal Seam Gas (CSG), with a secondary code of EUALAAAH, Unconventional Resources Development (Shale/Tight, CBM). Its NAICS code is 21113 and its SIC code is 4923.