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DGOC reports US$289.8mln of revenue as acquisitive growth continued through 2018

Diversified Gas & Oil PLC (LON:DGOC) revealed it generated some US$289.8mln of revenue during 2018 as it continued to expand its business through acquisitions. It completed four deals during the year, with US$938mln of transaction value. CEO Rusty Hutson tells Proactive London more about the company's strong results and updates us as to what's in the near-term pipeline. Proved reserves totalled 474mln barrels oil equivalent at the end of the year, with a value of US$1.6bn. Production averaged 41,000 barrels of oil equivalent per day, compared to 6,600 boepd in 2017, and, it measured an exit rate 70,000 boepd as at 31 December. DGOC strikes deals with Kentucky authorities. Earnings (adjusted EBITDA) was reported at US$161.9mln, up 910% from the US$16mln reported for last year. DGOC began its quarterly dividend payments, with the third quarter payment (3.30 US cents per share) due on 29 March and the fourth quarter payment (3.40 cents per share) will be due on 28 June. It will pay a total of 11.225 cents per share for the whole year. "These results reflect a year of rapid growth as the company continued to capitalise on opportunities in Appalachia to complete a number of material acquisitions consistent with our stated growth strategy,” said  Hutson.

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Price: 99.5 GBX

LSE:DGOC
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