The Energy Pragmatist · 2026-05-26 · 40 min
In this episode of The Energy Pragmatist , Ben West sits down with Michael Rigg, Chief Investment Officer, Diversified Energy Company, to discuss the evolving landscape of upstream oil and gas investing, the rise of asset-backed securitizations (ABS), and why many investors may still be underestimating the long-term opportunity across the energy sector. Drawing on his experience leading business development and M&A at Diversified Energy Company, Michael explains how the company has built a differentiated strategy around PDP-heavy acquisitions, durable free cash flow, and long-life asset optimization. The conversation explores how ABS financing has reshaped upstream valuations, why capital is flowing back into PDP assets, and how Diversified is positioning itself for the next phase of growth. The discussion also dives into the broader macro backdrop shaping oil and gas markets today, including geopolitical risk, OPEC dynamics, LNG demand growth, AI-driven power demand, and the changing behavior of both public and private operators.
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