Our history

A proven track record for value creation

  • 2017

    Re-Admission to AIM, Fundraising and Acquisition

    In June, the company acquired approximately 7,300 producing gas and oil wells from Titan Energy LLC, $35 million equity raising and $110 million financing.

  • 2017

    Acquisition of assets from EnerVest

    In February 2017, 1,300 producing wells were purchased from EnerVest Ltd for $1.75 million.

  • 2017

    Admission to AIM

    In February 2017, the Company’s ordinary shares were admitted to trading on the AIM Market of London Stock

    Exchange (AIM) having successfully raised $50 million equity from blue-chip institutional investors.

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  • 2016

    Acquisitions of Eclipse Resources and Seneca Resources

    In April 2016, DGO acquired approximately 1,300 conventional natural gas and oil wells in Ohio, in addition to equipment, from Eclipse Resources.

    The total consideration amounted to $4.8 million.

    In June 2016, DGO acquired 2,200 conventional natural gas and oil wells, in addition to pipeline assets, located in Pennsylvania from Seneca Resources. The total consideration paid amounted to $3.55 million.

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  • 2015

    DGO corporate bond listing in London

    In 2015, DGO successfully listed a corporate bond in London on the ISDX Growth Market.  The Company raised approximately £10.5 million via the bond.

    The proceeds of the Bonds were used to purchase oil and gas producing assets in Ohio, reduce high yield debt and provide alternative sources of funding for acquisitions as part of the Group’s wider growth strategy.

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  • 2015

    Acquisition of Broadstreet Energy and Texas Keystone assets

    In June 2015, DGO acquired 732 conventional natural gas and oil wells from Broadstreet Energy based in Ohio. The total consideration paid amounted to $2.6 million, which comprised cash of $600,000 and a short-term loan note of $2 million.

    In November 2015, DGO acquired 1,709 conventional natural gas and oil wells and two buildings in Pennsylvania and West Virginia in addition to equipment and automobiles from Texas Keystone Inc.

    As part of and in connection with this Keystone transaction, between December 2015 and January 2016, DGO also acquired certain overriding royalty interests in these wells and the Indiana, Pennsylvania real estate from Falcon Partners Trust and acquired certain of the leases and wells (including working interests and net revenue interests) related to those wells from Keystone Energy Oil & Gas, Inc. The total collective consideration paid in these transactions amounted to $725,000.

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  • 2014

    Fund 1 acquisition and further expansion

    The acquisition of Operated Equity Investment (“Fund 1”) was completed in September 2014.

    The transaction included the acquisition of 316 conventional oil and gas producing wells in West Virginia and an equity interest in four horizontal Marcellus wells drilled and operated by Antero Resources. The purchase price was $4.3 million.

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  • 2010

    Acquisitions and geographical expansion

    DGO expanded into Ohio by acquiring the conventional assets of AB Resources for $14.5 million. The acquisition added over 700 wells to DGO’s portfolio, approximately 1,600 mcfe per day, and around 35,000 acres of conventional drilling. DGO employed 6 additional members of staff to provide infrastructure support to its geographical expansion.

    This acquisition was followed by the $5.2 million acquisition of Deep Resources Inc., resulting in an additional 321 wells and 83 net barrels of oil per day in Ohio.

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  • 2009

    Well production

    DGO’s operations totalled 237 wells, producing 2,700 mcfe per day of natural gas in West Virginia.
  • 2006

    Asset acquisition

    Rusty Hutson Jr. and Robert Post acquired the assets of Diversified Resources, Inc. in West Virginia, paying $5.2 million for 100 wells and several hundred acres of drilling leases, forming the branded name of “Diversified”.
  • 2003 - 2008

    Drilling activity funding

    DGO drilled a number of wells at a cost ranging from $150,000 to $350,000 per well. DGO’s capital for the drilling of the wells was funded by Robert Post and Rusty Hutson Jr. personally and supplemented by bank financing.
  • 2003

    Partnership through combination of drilling and acquisitions

    Robert Post partnered with Rusty Hutson Jr. Together they continued to expand the business within West Virginia, through a combination of drilling existing leases and the acquisition of operating assets.
  • 2001

    Acquisition of West Virginian gas and oil company

    Rusty Hutson Jr. began the business as a West Virginian oil and natural gas production company, whilst still working for a large financial institution in Birmingham, Alabama.