EIG-backed Maverick Natural Resources, a private oil and gas company headquartered in Houston, Texas, agreed to acquire certain producing properties in the Permian Basin from ConocoPhillips, an American multinational corporation engaged in hydrocarbon exploration and production, for $440m. "This Permian acquisition expands the scale of Maverick’s operations and provides high quality, oil-weighted drilling inventory. The transaction highlights our portfolio focus in Texas and Oklahoma, which follows our recent divestitures of assets in California and Michigan," Chris Heinson, Maverick CEO.