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Diversified Gas & Oil looks forward to integration of acquired gas infrastructure

"We are pleased to close on these transactions and are eager to move forward with an expeditious integration of these assets into our midstream portfolio,” Hutson said.

Diversified Gas & Oil PLC - Diversified Gas & Oil looks forward to integration of acquired gas infrastructure

Diversified Gas & Oil PLC (LON:DGOC) chief executive Rusty Hutson told investors that the company is eager to advance “an expeditious integration” of its recently acquired gas infrastructure assets.

In a stock market statement, the company highlighted the recent completion of two separate purchases of gas gathering systems in Pennsylvania and West Virginia for a total of around US$7.7mln.

READ: DGOC completes EdgeMarc Energy asset acquisition

The deals gave DGOC around 1,700 miles of low-pressure wet and dry gas gathering pipelines - plus compressors, measurement stations, other related facilities and equipment – and, it has today noted that the company now operates some 12,000 miles of gas gathering and transporting pipelines across the Appalachian Basin.

"We are pleased to close on these transactions and are eager to move forward with an expeditious integration of these assets into our midstream portfolio,” Hutson said.

“The ability to control the flow of our gas while simultaneously increasing our market optionality and net cash margins represents another value enhancing transaction for the company."

Quick facts: Diversified Gas & Oil PLC

Price: 97.688 GBX

AIM:DGOC
Market: AIM
Market Cap: £637.73 m
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Full interview: Diversified Gas & Oil boosts production by 10% in third quarter

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on 14/11/19

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