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Diversified Gas & Oil raises US$250mln to help fund its largest acquisition

Published: 17:15 02 Jul 2018 AEST

Rusty Hutson, chief executive of Diversified Gas & Oil plc (LON:DGOC), tells Proactive Investors they've raised US$250mln via an oversubscribed placing priced at 97p per share to part fund the recently announced US$575mln acquisition of additional assets in the Appalachian Basin.

''We're now by far the largest conventional player in the Basin ... [the acquisition] gives us a lot of scale and size which we can also use from the stand point of capital advantage going forward for other acquisitions''.

Diversified Gas & Oil enjoying 'robust production and increasing cashflow'

Rusty Hutson, chief executive of Diversified Gas & Oil plc (LON:DGOC), discusses with Proactive's Andrew Scott the company’s “remarkable success” in its first year as a public company. “We delivered everything we said we would do at the time of our admission to AIM in terms of growing...

on 30/4/18
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