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Diversified Gas & Oil raises US$250mln to help fund its largest acquisition

Published: 08:15 02 Jul 2018 BST

Rusty Hutson, chief executive of Diversified Gas & Oil plc (LON:DGOC), tells Proactive Investors they've raised US$250mln via an oversubscribed placing priced at 97p per share to part fund the recently announced US$575mln acquisition of additional assets in the Appalachian Basin.

''We're now by far the largest conventional player in the Basin ... [the acquisition] gives us a lot of scale and size which we can also use from the stand point of capital advantage going forward for other acquisitions''.

Diversified Energy announces closing of innovative deal to unlock current...

  Diversified Energy CEO Rusty Hutson joined Steve Darling from Proactive to share news regarding an innovative transaction that the company has closed. This transaction has allowed Diversified Energy to unlock additional value from its existing asset base while also improving liquidity and...

on 1/2/24