Oil price, DGOC, JOG, Jadestone, President, Hurricane. And finally…
DGO has announced the $135 million conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana from Indigo Minerals, and also an operations and trading update for the quarter ended 31 March 2021.
WTI $65.01 +$1.15, Brent $68.56 +$1.29, Diff -$3.55 +14c, NG $2.91 -5c, UKNG (June) 59.26p +3.76p
Oil price
Another good day for oil as the month comes to a close even if it is a touch lower today. The reason is that economic data from the US continues to pile on and with 1Q GDP of 6.4% and yesterday’s jobless claims falling by 13/- to 553/- markets, certainly over there were very positive.
BIRMINGHAM, AL / ACCESSWIRE / April 30, 2021 / London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ("DGO" or "the Company"), announces the $135 million (gross) conditional acquisition of certain Cotton
Diversified Gas & Oil PLC (LSE: DGOC) announces the $135 million (gross) conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana ( the Assets ) from Indigo Minerals LLC ( Indigo ), (the Acquisition ) and the following operations and trading update for the quarter ended 31 March 2021. The Acquisition represents the first for the Company in its newly identified Central Regional Focus Area ( RFA ) where it expects to replicate its proven business model on an expanded opportunity set: • Acquisition Highlights ◦ ~2.9x multiple on ~$40MM of Adjusted EBITDA (Hedged)
(a) before anticipated synergies
(b) ◦ PV10 ~$175MM as of 1 March 2021 effective date and based on 16 April 2021 NYMEX strip price
Diversified Gas & Oil PLC Announces Conditional Acquisition in New Regional Focus Area and Trading Update
BIRMINGHAM, AL / ACCESSWIRE / April 30, 2021 / London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ( DGO or the Company ), announces the $135 million (gross) conditional acquisition of certain Cotton Valley upstream assets and related facilities primarily in the state of Louisiana ( the Assets ) from Indigo Minerals LLC ( Indigo ), (the Acquisition ) and the following operations and trading update for the quarter ended March 31, 2021.
The Acquisition represents the first for the Company in its newly identified Central Regional Focus Area ( RFA ) where it expects to replicate its proven business model on an expanded opportunity set: