Diversified Gas & Oil to acquire Appalachian assets from Carbon Energy for $110m.

Gas and oil company Diversified Gas & Oil agreed to acquire certain conventional Appalachian upstream and midstream assets from Carbon Energy for $110m. The assets are located within DGO's existing West Virginia, Kentucky and Tennessee footprint and further increase its operating scale and efficiencies. "DGO is uniquely positioned to capitalise on compelling opportunities in the current market and moved quickly to secure exclusivity on this value accretive package. We can comfortably fund the acquisition without dilution to our loyal shareholders using our existing credit facility. This proposed complementary acquisition, if completed, remains consistent with our commitment to pursue prudent growth that enhances our dividend per share to shareholders," Rusty Hutson, DGO CEO.