Diversified Energy: Difference between revisions
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In [[2016]] Diversified Gas & Oil moved its headquarters offices to 1100 [[Corporate Drive]], in [[Hoover]]'s [[Meadow Brook Corporate Park]]. Most of the company's production work is centered in Pittsburgh, Pennsylvania. | In [[2016]] Diversified Gas & Oil moved its headquarters offices to 1100 [[Corporate Drive]], in [[Hoover]]'s [[Meadow Brook Corporate Park]]. Most of the company's production work is centered in Pittsburgh, Pennsylvania. | ||
After raising $50 million in capital through the London exchange, Diversified purchased 550 wells in central Ohio from NGO Development Corp. for $3.1 million. In February [[2018]], with capital from additional stock offerings, the company bought the Alliance Petroleum Company of Canton, Ohio for $95 million, and the | After raising $50 million in capital through the London exchange, Diversified purchased 550 wells in central Ohio from NGO Development Corp. for $3.1 million. In February [[2018]], with capital from additional stock offerings, the company bought the Alliance Petroleum Company of Canton, Ohio for $95 million, and the Appalachian natural gas portfolio of CNX Resources for another $85 million. In July of the same year it announced that it had acquired another 11,000 wells in Kentucky, Virginia and West Virginia from EQT Corp. for $575 million. The purchase increased Diversified Gas & Oil's workforce to around 750 employees. In November, Diversified Gas & Oil acquired a portfolio of 5,000 wells and 4,100 miles of pipeline in Kentucky, West Virginia and Virginia froom TCFII Core LLC for $183 million. Many of those properties adjoin assets that the company acquired from EQT, allowing the company to bank on additional efficiencies. | ||
==References== | ==References== | ||
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* Rebman, Stephanie (March 6, 2018) "Why this Birmingham company went public in London." {{BBJ}} | * Rebman, Stephanie (March 6, 2018) "Why this Birmingham company went public in London." {{BBJ}} | ||
* Van der Bijl, Hanno (July 24, 2018) "Birmingham oil and gas company makes $575M acquisition." {{BBJ}} | * Van der Bijl, Hanno (July 24, 2018) "Birmingham oil and gas company makes $575M acquisition." {{BBJ}} | ||
* Rebman, Stephanie (November 12, 2018) "Birmingham public company completes $183M acquisition." {{BBJ}} | |||
==External links== | ==External links== | ||
Revision as of 16:28, 12 November 2018
Diversified Gas & Oil PLC is a publicly-traded company founded in 2001 by banker Rusty Hutson to acquire and operate oil and natural gas wells, primarily in the Appalachian Basin. He was joined by Robert Post in 2003, and took the company public on the London Stock Exchange in 2017.
In 2016 Diversified Gas & Oil moved its headquarters offices to 1100 Corporate Drive, in Hoover's Meadow Brook Corporate Park. Most of the company's production work is centered in Pittsburgh, Pennsylvania.
After raising $50 million in capital through the London exchange, Diversified purchased 550 wells in central Ohio from NGO Development Corp. for $3.1 million. In February 2018, with capital from additional stock offerings, the company bought the Alliance Petroleum Company of Canton, Ohio for $95 million, and the Appalachian natural gas portfolio of CNX Resources for another $85 million. In July of the same year it announced that it had acquired another 11,000 wells in Kentucky, Virginia and West Virginia from EQT Corp. for $575 million. The purchase increased Diversified Gas & Oil's workforce to around 750 employees. In November, Diversified Gas & Oil acquired a portfolio of 5,000 wells and 4,100 miles of pipeline in Kentucky, West Virginia and Virginia froom TCFII Core LLC for $183 million. Many of those properties adjoin assets that the company acquired from EQT, allowing the company to bank on additional efficiencies.
References
- Rebman, Stephanie (March 1, 2018) "How Rusty Hutson quietly built a publicly traded company in Birmingham." Birmingham Business Journal
- Rebman, Stephanie (March 6, 2018) "Why this Birmingham company went public in London." Birmingham Business Journal
- Van der Bijl, Hanno (July 24, 2018) "Birmingham oil and gas company makes $575M acquisition." Birmingham Business Journal
- Rebman, Stephanie (November 12, 2018) "Birmingham public company completes $183M acquisition." Birmingham Business Journal
External links
- Diversified Gas & Oil website