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The acquisition has been approved by Maverick’s board of directors and majority equity owner, EIG Global Energy Partners, and will be funded by a fully committed $500 million reserve-based loan provided by JPMorgan Chase Bank, NA, Royal Bank of Canada, Citizens Bank, NA, KeyBank National Association, and KeyBanc Capital Markets Inc.
Pro forma for the acquisition, Maverick’s production exceeded 78,000 boe/d in September 2021.
Subject to customary closing conditions and funding, the deal is expected to close in second-quarter 2022.