Jan 27 (Reuters) - U.S.-based Diversified Energy ( DEC )

said on Monday it will buy private equity-owned Maverick Natural

Resources for $1.28 billion, including debt, to expand into the

oil and gas-rich Permian Basin.

Diversified Energy ( DEC ), which focuses on producing natural gas

and liquids, said it would take on about $700 million of

Maverick Natural Resources' debt, giving the combined company a

value of about $3.8 billion, including debt.

Maverick's current owner, investment firm EIG Global Energy

Partners, will own about 20% of the new company, the statement

said.

Maverick's asset base in the Permian Basin, the world's

largest shale oil-producing region, consists of producing oil

fields in West Texas and New Mexico.

Reuters reported in August that EIG was exploring a

potential sale of Maverick that could value the U.S. oil and gas

producer at nearly $3 billion, including debt.

Diversified Energy ( DEC ) CEO Rusty Hutson will remain as the top

executive of the combined company, while Chair David Johnson

will also continue in that position in the new company, the

statement said.