Diversified Gas & Oil Trading Update
Diversified Gas & Oil Plc (ISDX: DOIL), is pleased to provide a trading update for the period ending 30 June 2016.
On June 30, 2016, DGO closed on the acquisition of 2,400 conventional oil and gas wells in Pennsylvania, USA from Seneca Resources Corporation. These assets are producing approximately 10,500 MCF of natural gas per day and 45 barrels of oil per day. This is the largest acquisition for DGO to date.
As a result of this acquisition, DGO now operates over 7,500 conventional oil and gas wells in Pennsylvania, West Virginia and Ohio producing approximately 23,000 MCF per day of natural gas (3,960 Barrels of Oil Equivalent (BoE) and over 500 barrels per day of crude oil.
Rusty Hutson, Chief Executive Officer, commented the following:
“The Company continues to see strong deal flow and anticipates further acquisition opportunities in 2016”.
Neither this announcement nor the information contained herein constitutes an offer or solicitation by Diversified Gas & Oil Plc for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
The Directors of Diversified Gas & Oil Plc accept responsibility for this announcement.
COMPANY CONTACT DETAILS:
Rusty Hutson, Chief Executive Officer
Diversified Gas & Oil
100 Corporate Ridge,
Telephone: + 1 205 408 0909
ISDX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott – Corporate Finance
James Dewhurst – Institutional Sales
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London EC4N 4SA