Your Portal for Key Energy Information and Research

Diversified Gas & Oil PLC

Company Summary

Description

Diversified Gas & Oil is focused on the Appalachian Basin in the north-east US.

Website

http://www.diversifiedgasandoil.com/

Operational Regions

  • Marcellus Shale
  • Appalachia

Related Entities

Recent news

  • 5/26/2020 - EQT Closes on... (subscriber access)
  • 3/28/2019 - Diversified Gas and Oil... (subscriber access)
  • 7/25/2018 - Diversified Gas & Oil... (subscriber access)
  • 6/29/2018 - EQT Corp. Divesting... (subscriber access)
  • 4/6/2018 - Diversified Gas & Oil... (subscriber access)

Company Transactions

Date: 5/26/2020
Type: Acquisition

BUYERS:
  • Diversified Gas & Oil PLC
    • SELLERS:
  • EQT Corporation
    • DETAILS:

    COST: 125 $MM

    VOLUMES: 53 Mmcfe/d

    NOTES:
    EQT has closed on the sale of "non-strategic assets" in Pennsylvania and West Virginia for $125 million to Diversified Gas and Oil. The sale relieved EQT of $47 million in asset retirement obligations and other liabilities and they used proceed to pay down their term loan due 2021. The deal included 53 Mmcfe/d in production spread across 889 wells.
    REGIONS:
  • Appalachia

    • Date: 3/28/2019
    Type: Acquisition

    BUYERS:
  • Diversified Gas & Oil PLC
    • SELLERS:
  • Hg Energy, LLC
    • DETAILS:

    COST: 400 $MM

    VOLUMES: 20 MBOE/d

    NOTES:
    Diversified Gas and Oil acquired several Pennsylvania and West Virginia producing gas assets from HG Energy for $400 million. The assets include 107 unconventional producing wells with a combined net production of more than 20 Mboe/d.
    REGIONS:
  • Appalachia

    • Date: 7/25/2018
    Type: Acquisition

    BUYERS:
  • Diversified Gas & Oil PLC
    • SELLERS:
  • EQT Corporation
    • DETAILS:

    COST: 575 $MM

    VOLUMES: 200

    ACRES: 2500000

    NOTES:
    In sum, the assets hold a 92% net revenue interest on the acreage mentioned, 12,000 wells producing 200 Mmcfe/d, 1.6 Tcfe in net proved developed reserves and 6,400-miles of low-pressure gathering lines with 59 compressor stations.
    REGIONS:
  • Appalachia

    • Date: 3/31/2018
    Type: Acquisition

    BUYERS:
  • Diversified Gas & Oil PLC
    • SELLERS:
  • CNX Resources Corporation
    • DETAILS:

    COST: 85 $MM

    VOLUMES: 54 Mmcfe/d

    NOTES:
    The acquisition from CNX Resources includes conventional natural gas assets in Appalachia
    REGIONS:
  • Appalachia

    • Date: 3/7/2018
    Type: Acquisition

    BUYERS:
  • Diversified Gas & Oil PLC
    • SELLERS:
  • Alliance Petroleum Corporation
    • DETAILS:

    COST: 95 $MM

    VOLUMES: 53 Mmcfe/d

    REGIONS:
  • Appalachia

    • Date: 6/30/2017
    Type: Acquisition

    BUYERS:
  • Diversified Gas & Oil PLC
    • SELLERS:
  • Titan Energy, LLC
    • DETAILS:

    COST: 84.2 $MM

    VOLUMES: 30 Mmcfe/d

    NOTES:
    The deal includes 8,400 wells across Pennsylvania, Ohio, Tennessee, New York and West Virginia with 30 MMcfe/d in production and the associated infrastructure.
    REGIONS:
  • Appalachia