Rusty Hutson, chief executive of Diversified Gas & Oil plc (LON:DGOC), tells Proactive Investors they’ve raised US$250mln via an oversubscribed placing priced at 97p per share to part fund the recently announced US$575mln acquisition of additional assets in the Appalachian Basin.
”We’re now by far the largest conventional player in the Basin … [the acquisition] gives us a lot of scale and size which we can also use from the stand point of capital advantage going forward for other acquisitions”.