Two Years Of Deals Create New 90,000 Boe/d Appalachian Basin Producer

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.

All Diversified Gas & Oil Plc Acquisitions since Jan 1, 2017

Source: Evaluate Energy M&A Review – Q1 2019

Evaluate Energy’s M&A review for Q1 2019 is available to download now and also includes analysis on the following:

  • Q1 2019’s top 10 deals in a quarter where only $9.8 billion was spent globally;
  • The changing spending priorities of upstream companies that weakened M&A appetites;
  • Major asset sales around the world by Chevron, Murphy and Marathon Oil;

For more on the Evaluate Energy M&A database, click here.

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  • M&A