About Maverick

Taking the Reins

Maverick is a results-driven, private oil and natural gas company with a strong focus on assets in Texas and Oklahoma.

With a large and diversified asset base providing production optionality and development potential, Maverick is competitively positioned in some of North America’s leading oil and gas plays. The success of Maverick’s ongoing portfolio optimization strategy fuels its ability to seize new organic growth opportunities.

At Maverick, safety is of paramount importance. Safety culture runs throughout the entire organization. Protecting the environment is equally important for Maverick, which endeavors to minimize the company’s footprint on air, water and land through technology and innovation.

A responsible energy producer, Maverick is resolved to continuously improving its environmental, social and governance (ESG) performance. The company’s executive leadership sets ambitious ESG targets and challenges all employees to exceed set goals while operating in the safest, most sustainable way.

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Maverick’s Culture

Extraordinary accomplishments start with extraordinary people. Maverick’s success comes from the inventiveness and resolve of peerless talent aligned to a common purpose.

Executive Leadership

Maverick’s visionary Executive Leadership Team brings a depth of talent, knowledge and industry experience to achieve Maverick’s corporate objectives.

Board of Directors

The Board of Directors of Maverick is comprised of accomplished energy executives who oversee the strategic direction of the company and its governance.

Maverick’s Competitive Advantages

Diversified, Long-Lived Assets | Disciplined Growth Strategy

  • Geographically diverse, predictable production profile
  • Material inventory of low-risk development opportunities
  • Actively sourcing proved developed producing (PDP) acquisition opportunities to replicate Transformation model
  • Targeting concentrated PDP liquids-rich gas assets in West Texas, East Texas and Oklahoma

Free Cash Flow Generator | Conservative Balance Sheet

  • Company-wide focus on generating substantial free cash flow
  • Minimal capital requirements given consistent production from mature long-life wells
  • Low leverage with a reliable business model
  • Disciplined hedging program

Innovation | Oilfield Technology

  • Automation of more than 4,000 wells since 2018
  • Centralization of operations centers to develop efficiencies and support field operations
  • Use of traditional and cutting-edge technologies

Maverick’s Transformative Approach

Maverick’s unique business model is rooted in Transformation, a strategic approach that engages the entire organization to deliver step-change results. The success of this model is evidenced through Maverick’s track record of disciplined acquisitions of high-quality assets, measurable cost reductions and profitable growth.

Utilizing its Transformation playbook, Maverick has realized significant, lasting company-wide and basin-specific improvements, including:

  • Well-by-Well Economic Analysis
    Rightsizing the company’s operational footprint through divesting and shutting in uneconomic wells while returning to production and working over wells with upside potential.
  • Fixed Cost Reduction
    Dramatically reducing lease operating expense to barrel of oil equivalent (LOE/Boe) run rate by fundamentally shifting cost structure.

In addition to transforming foundation assets, the company employs Transformation to rapidly and seamlessly integrate acquired assets into Maverick culture.

Highlights

Daily Production

77
MBoe/d

Approximately 90% of production is located in Oklahoma, Texas, New Mexico and Louisiana

PDP Reserves

281
MMBoe

$2.70 billion PV-10

Total Proved Reserves

349
MMBoe

$3.27 billion PV-10

2021 Pro Forma Adjusted EBITDA

$
684
MM

Hedged pro forma adjusted EBITDA of $435 million