Birmingham’s Diversified Energy is partnering with a global investment firm that promises an exceptional infusion of cash.

Diversified, a natural gas and liquids production company, announced Monday an agreement with Carlyle to invest up to $2 billion in natural gas and oil assets across the U.S.

The assets are what is known as proved developed producing, or PDP. This means that the assets are being actively extracted and sold, have existing infrastructure, and are economically viable under current economic conditions.

This deal “enhances Diversified’s access to capital in an attractive acquisition market,” the company said in a statement.

Earlier this year, Diversified Energy announced an agreement to acquire Texas’ Maverick Natural Resources, creating a company with combined assets of about $3.8 billion.

Rusty Hutson, Jr., CEO of Diversified Energy, said the partnership “significantly enhances our ability to pursue and scale strategic acquisitions in what we believe is a highly compelling environment for PDP asset consolidation”

Under the terms of the agreement, Diversified will serve as the operator and servicer of newly acquired assets.

As investments occur, Carlyle intends to pursue opportunities to securitize the assets, seeking to unlock long-term, resilient financing, the company said.

“We continue to see a robust pipeline of opportunities and the growing need for operational scale and efficiency,” Hutson said. “With Carlyle’s support, we are well-positioned to capitalize on these trends while aiming to generate sustainable cash flow and value for our shareholders.”

Carlyle Asset-Backed Finance focuses on private fixed income and asset-backed investments. Carlyle ABF has deployed approximately $8 billion since 2021 and has approximately $9 billion in assets under management as of the first quarter of this year.

“Diversified is a leading operator of long-life energy assets and a pioneer in bringing PDP securitizations to institutional markets,” said Akhil Bansal, head of asset-backed finance at Carlyle. “We are excited to bring institutional capital to high-quality, cash-yielding energy assets that are core to U.S. domestic energy production and energy security.”