Edison Investment Research - Diversified Gas Oil (DGOC) Diversified Gas Oil - Roadmap to Main Market

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Edison Investment Research

Diversified Gas & Oil - Roadmap to Main Market

Diversified Gas and Oil (DGO) has announced the successful completion of its securitised financing arrangement with a 5% coupon and 10-year maturity. The company issued $200m in notes secured by c 22% working interest of certain upstream assetsâ€™ cash flows. DGO also announced its Q319 results delivering a 10% q-o-q increase in production to c 91kboed and hedge adjusted EBITDA of $64m. Since our previous note, the company has completed three acquisitions encompassing assets located near DGO operations and announced it is pursuing a move to the Premium segment of the Main Market of the London Stock Exchange. We update our valuation to 157.2p/share affected by a decrease in short-term gas price assumptions and lower production in H119 compared to our last note.

06/12/2019 9 EN

Underlying

Diversified Gas & Oil

Diversified Gas & Oil is an Appalachian Basin focused natural gas and crude oil operations company.

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GB00BYX7JT74 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Diversified Gas & Oil - Roadmap to Main Market

AUCTUS ON FRIDAY - 05/04/2024

AUCTUS ON FRIDAY - 15/03/2024

Auctus on Friday - 02/02/2024

discoverIE Group - FY24 EPS in line; good margin progress

Ultimovacs - Steadfast commitment to UV1 progression

OSE Immunotherapeutics - AbbVie deal clears antitrust hurdle

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