Acquisition of Core Appalachia Holding Co LLC for a total consideration of $183 million by Diversified Gas & Oil PLC.

Diversified Gas & Oil PLC (AIM: DGOC), the US based gas and oil producer, announced the acquisition of Core Appalachia Holding Co LLC from TCFII Core LLC for total consideration of approximately $183 million comprised of a $130 million cash payment and the issuance of 35,000,000 new ordinary shares of 1 pence at an effective issue price of £1.15 ($1.51) per share. Diversified Gas & Oil's CEO Rusty Hutson said: "Our strategic acquisition of Core will allow us to unlock significant value from our enlarged base of assets in Kentucky and West Virginia that would otherwise not be achievable on a stand-alone basis. Core's assets are highly contiguous to the assets we acquired from EQT earlier this year and materially expand our midstream footprint in Southern Appalachia. We expect to deliver both immediate and near-term synergies by combining these assets, resulting in higher revenues and lower operating expenses which will support our exceptional EBITDA margins across the portfolio and drive dividend payouts higher."