Diversified Gas & Oil acquires Louisiana project as part of new focus area

Diversified Gas & Oil PLC (LON:DGOC) has acquired assets in Louisiana, marking its first deal in a newly identified regional focus area. CEO Rusty Hutson tells Proactive London about the new focus as well as providing news on the trading update and dividend.

Hutson explains that the ‘Cotton Valley’ package includes16,000 barrels oil equivalent per day (boepd) of production across 780 net operated wells and is host to around 50mln barrels of proved-developed-producing (PDP) reserves.

Now, the company believes that in the new RFA it can roll out its proven business model again.

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