Maverick Natural Resources Acquires FourPoint Energy
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Maverick Natural Resources has acquired FourPoint Energy, the largest producer in the Western Anadarko Basin. In conjunction with the all-equity merger, FourPoint became a wholly owned subsidiary of Maverick and was renamed Unbridled Resources. Both Maverick and FourPoint are majority controlled by EIG Global Energy Partners managed funds.
The acquired assets produce approximately 50,000 net barrels of oil equivalent per day (47 percent liquids) from Western Oklahoma and Northern Texas. The Unbridled position spans 700,000 acres across the core of the Granite Wash and Cleveland Sand plays. The acquisition also included MidPoint Midstream and Wheeler Midstream which provide midstream services in the Western Anadarko Basin.
“The acquisition of FourPoint demonstrates Maverick’s ability to translate its best-in-class operational proficiency into significant growth. Over the last several years, Maverick has become a leader in reducing costs in mature assets. Maverick’s transformation process allows us to rapidly deploy technology and analytics to drive reductions in G&A and lease operating expense,” said Chris Heinson, Maverick’s CEO.
“By renaming FourPoint Energy to Unbridled Resources, we are signaling a shift from the traditional shale model to Maverick’s margin-focused operational strategy. These assets add to Maverick’s substantial portfolio of long-lived assets. With our proven track record of safe, environmentally responsible operations and significant operational scale, we are exceptionally well-positioned to acquire additional producing assets,” added Heinson.
About Maverick Natural Resources
Maverick Natural Resources is an oil and gas organization headquartered in Houston, Texas. Maverick operates in thirteen states and specializes in management of mature upstream assets through application of automation and data-science technology. Maverick is majority-owned by EIG Global Energy Partners.
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