Source - SMW
Appalachian Basin-focused producer of gas and oil Diversified Gas & Oil said overall trading remained in line with current market forecasts.

The company said the acquisition of assets from Titan Energy announced in June was now wholly completed with the closing of the remaining assets on 29 Sep. 

The company said it had largely concluded the initial integration of the Titan assets into its operations, and continued its efforts to optimise the asset performance while reducing costs. 

The company said it now operated approximately 17,000 wells.

The company also said it continued to improve operating efficiencies, driving costs lower and increasing gross margins.  

It added: 'Since completing the Titan acquisition, operating costs have been reduced 8% from $7.73/Boe reported for the first six months of 2017 to $7.14/Boe in September 2017. 

'In turn, adjusted EBITDA margins have improved from 35% for the first six months of 2017 to 44% in September 2017.'

 

 


At 8:19am: (LON:DGOC) Diversified Gas Oil Plc share price was +0.75p at 81.75p



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