UK-listed Diversified Gas & Oil plans to beef up its footprint in the Appalachian basin of the north-east US with a $400 million acquisition of producing assets from privately held HG Energy II.
The properties to be acquired include more than 100 wells with a combined net daily production of more than 20,000 barrels of oil equivalent.
DGO said the deal would boost the company’s net production to more than 90,000 boepd and increase its reserves estimate to 566 million boe.
