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ES - Diversified acquires HG’s Huckleberry assets for $400MM - April 2019
In the first major Appalachian transaction of 2019, London-listed Diversified Gas & Oil struck a $400 million deal to acquire operated assets near its existing operations in Pennsylvania and West Virginia from privately held HG Energy II. The so-called Huckleberry assets will boost the company’s net production by 30% to ~540 MMcfe/d and its PDP reserves by 20% to 3.4 Bcfe. Diversified is picking up 100% WI (87% NRI) in 107 unconventional producing wells with 2018 net production of 123.9 MMcf/d......
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