Maverick Natural Resources closes $640 million asset-backed securitization

HOUSTON, Oct. 27, 2023 /PRNewswire/ -- Maverick Natural Resources, LLC ("Maverick") today announced that it has issued $640 million of notes in an asset-backed securitization ("ABS"). The notes were issued in three tranches and are secured by the Company's Western Anadarko Basin producing wells.

"This ABS transaction demonstrates Maverick's ability to cost effectively raise capital and positions Maverick to raise additional capital in the future," said Chris Heinson, Maverick CEO. "Our success is predicated on an exceptional operational track record of managing PDP assets cost effectively by utilizing peer-leading technology."

The notes were offered in a private offering to accredited investors under Section 4(a)(2) of the Securities Act of 1933 and will not be registered. Cantor Fitzgerald & Co. and J.P. Morgan Securities LLC served as Lead Structuring Advisors and Placement Agents.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes.

About Maverick Natural Resources, LLC

Maverick Natural Resources is an oil and gas organization headquartered in Houston, Texas. Maverick specializes in management of mature upstream assets through application of automation and data-science technology. Maverick is majority-owned by EIG. To learn more, visit www.mavresources.com.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $22.9 billion under management as of June 30, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed $45.1 billion to the energy sector through over 400 projects or companies in 42 countries on six continents. EIG's clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG's website at www.eigpartners.com.

SOURCE Maverick Natural Resources, LLC