Diversified Gas & Oil

Diversified Gas & Oil plc is a gas and oil production company operating in the Appalachian Basin in the United States. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Diversified Gas & Oil plc
TypePublic
LSE: DGOC
IndustryOil and gas
Founded2001 (2001)
HeadquartersBirmingham, Alabama
Key people
David Johnson (Chairman)
Robert Hutson (CEO)
Revenue $462.3 million (2019)[1]
$180.5 million(2019)[1]
$99.4 million (2019)[1]
Websitewww.dgoc.com

History

The company was established by Robert ('Rusty') Hutson when he bought an gas well in West Virginia in 2001.[2] The management then grew the business over the next decade by acquiring old gas and oil wells that the main producers did not want.[2] It was the subject of a flotation on the Alternative Investment Market in February 2017 and moved to the premium market in May 2020.[3] In September 2020 FTSE Russell announced that the company would be joining the FTSE 250 Index later in the month.[4]

Operations

In May 2020 the company owned 60,000 wells across the Appalachian Basin in the United States.[2]

References
  1. "Annual Report 2019" (PDF). Diversified Gas & Oils. Retrieved 2 September 2020.
  2. "The man who bought 60,000 oil and gas wells". BBC. 18 May 2020.
  3. "Diversified Gas & Oil seeks deals ahead of FTSE 250 move". FT. 17 May 2020.
  4. "FTSE UK Index Series Quarterly Review September 2020". FTSE Russell. 2 September 2020. Retrieved 2 September 2020.
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