Evaluate Energy’s review of Q1 M&A activity sheds further light on the rapid growth of one U.S. oil and gas player operating in the Appalachian Basin.
Thanks to its latest acquisition, for $400 million, Diversified Gas & Oil Plc now produces more than 90,000 boe/d. That deal saw them pick up 20,700 boe/d in assets in Pennsylvania and West Virginia from HG Energy II Appalachia LLC.
The purchase is Diversified’s second largest, behind a $575 million acquisition in June last year from EQT Corp. Two years ago, Diversified produced under 7,000 boe/d.
Full details can be found in the latest Evaluate Energy upstream M&A report, available for download here.