Diversified Gas &Oil - Financing Update
("DGO" or the "Company")
Reaffirmed Borrowing Base, Adds Hedging Flexibility
DGO expects to complete its next scheduled redetermination in the fourth quarter of 2020.
Following the redetermination, DGO's net debt approximates
"The reaffirmation of our borrowing base in this challenging environment speaks to the quality of our production, reserves and our strategy that is focused on generating steady positive cash flow to reduce debt and maintain a healthy balance sheet while consistently returning cash to shareholders through the dividend. This redetermination, together with other financings completed this year, demonstrates our ability to access competitive capital against a difficult economic backdrop. I would like to thank our 17-member bank group for their continued support as we remain focused on prudent growth in a market with increasing opportunities for those with an ability to transact and a proven record of successful execution."
(a) EBITDA is 2019 pro-forma for recent acquisitions as reflected in the
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Quick facts: Diversified Gas & Oil PLC
Market Cap: £727.08 m
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