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Diversified Gas & Oil 'very close' to Pennsylvania decommissioning agreement

Rusty Hutson, chief executive of Diversified Gas & Oil PLC (LON:DGOC), tells Proactive's Andrew Scott the integration of the large batch of oil and gas assets acquired from EQT in the Appalachian Region is on track.

The acquisition, in June, cost US$575mln and more than doubled production to around 60,000 barrels a day equivalent.

Hutson also discusses their decommissioning policies in the states where they mainly operate  - Ohio, Pennsylvania, Virginia, West Virginia, Kentucky and Tennessee.

Talks are underway with the Department of Environmental Protection in Pennsylvania over a decommissioning programme.

Quick facts: Diversified Gas & Oil PLC

Price: 99.5 GBX

Market: LSE
Market Cap: £703.74 m

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Diversified Gas & Oil makes big move to advance to the Main Market

Diversified Gas & Oil PLC (LON:DGOC) CEO Rusty Hutson tells Proactive the company has made the move to the premium segment of the London Stock Exchange. Hutson says the move will potentially improve liquidity and the valuation of its shares, and a larger number of institutional investors...

on 18/5/20

2 min read