The Energy Pragmatist: Michael Rigg Speaks on ABS, Oil & Gas M&A, and Why Investors May Be Underestimating the Next Energy Cycle
In this episode of The Energy Pragmatist, Ben West sits down with Michael Rigg, Chief Invetsment Officer at Diversified Energy Company, to explore the changing landscape of upstream oil and gas investing, the rapid growth of asset-backed securitizations (ABS), and why the market may still be underestimating the long-term outlook for energy.
Drawing on his experience at Diversified Energy Company, Michael explains how Diversified has built a differentiated strategy focused on PDP-heavy acquisitions, durable free cash flow, and long-life asset optimization. The conversation examines how ABS financing has reshaped upstream valuations, why capital continues flowing toward PDP assets, and how the company is positioning itself for the next phase of growth.
The discussion also dives into the broader macro environment shaping oil and gas markets today, including geopolitical risk, OPEC dynamics, LNG demand growth, AI-driven power demand, and the contrasting behavior of public versus private operators.
Michael shares his perspective on why natural gas assets may still represent one of the most attractive opportunities in the market today, while also outlining how rising oil prices, supply constraints, and changing capital dynamics are influencing upstream M&A activity across both oil and gas markets.
Michael Rigg will be joining us at this years New York Energy Investment Series at Nasdaq on 24 June, on the "From Niche Financing Tool to Strategic Weapon: How ABS Is Transforming M&A, Buyer Behavior, Portfolio Construction and the Cost of Capital" panel.
If you are interested in joining the conversation, please get in touch:
Ben West: ben.west@pragma-energy.com
Amy Miller: amy.miller@pragma-energy.com
