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Diversified Gas & Oil announces $400M Appalachia acquisition


London listed, Diversified Gas & Oil (OTC:DGAOF) proposes $400M acquisition in the Appalachian Basin from privately held HG Energy.

The assets being acquired include 107 producing gas wells with a combined net daily production of over 20,000 boe, resulting in pro forma net production to over 90,000 boepd

The acquisition will increase PDP Reserves to 566 mmboe, and will be immediately accretive to per share cashflow and earnings.

Source: M A News on Seeking Alpha