Diversified Gas & Oil PLC (AIM: DGOC), a US based gas and oil producer, is pleased to confirm the closing of the acquisition of the package of 1,300 producing oil and gas wells in the states of Ohio and Pennsylvania (the “Acquisition”), initially announced on 24 February 2017.
The Acquisition increases DGO’s gross gas production by 14% to approximately 30,000 Mcfd and gross oil production by 23% to approximately 585 bopd and is expected to contribute operating cash flow for the Company of approximately $1.0 million per annum. The cash consideration of $1.75m has been met from the Company’s existing resources.
Further information: http://www.diversifiedgasandoil.com/
