Diversified Energy has agreed to acquire Maverick Natural Resources for $1.275 billion. It marks the Birmingham-based company’s largest deal to date.

Before the deal, Diversified Energy’s valuation was roughly $800 million, but after acquiring the natural gas giant and combining forces, the total entity’s value will approach $4 billion.

EIG will retain a share of Maverick while Diversified’s Chief Executive Rusty Hutson Jr. will remain in charge.

“This acquisition expands our unique and highly focused energy production company with a complementary portfolio of attractive, high-quality assets,” said Rusty Hutson, Jr., CEO of Diversified Energy.

“The acquired producing assets have demonstrated leading well performance and are a natural fit with our operating advantage and existing acreage. Notably, the combined footprint in Oklahoma and the Western Anadarko Basin creates one of the largest in terms of production and acreage, which includes the emerging Cherokee formation.”

According to the Wall Street Journal, “The deal would expand Diversified Energy’s presence into the highest-producing U.S. oil patch. Maverick holds properties in the Permian Basin, an area near the border between Texas and New Mexico. President Trump has pledged to put policies in place that would bolster the oil-and-gas industry, and reverse course on many of former President Joe Biden’s climate initiatives.”