Diversified Gas & Oil PLC Borrowing Base Reaffirmation (8025U)
April 08 2021 - 1:00AM
UK Regulatory
TIDMDGOC
RNS Number : 8025U
Diversified Gas & Oil PLC
08 April 2021
8 April 2021
Diversified Gas & Oil PLC
("DGO" or the "Company")
Borrowing Base Reaffirmation
Diversified Gas & Oil PLC (LSE: DGOC), is pleased to
announce that the Company's bank lending group, led by KeyBank
National Association (the "Bank Group"), reaffirmed the existing
$425 million borrowing base of the Company's senior secured credit
facility (the "Credit Facility") with no changes to pricing,
covenants or other material terms after completing the Credit
Facility's semi-annual redetermination.
Rusty Hutson, Jr., CEO of the Company commented,
"Once again, our portfolio of stable-producing wells with
long-life reserves complemented by robust hedges and
value-enhancing midstream assets garnered a unanimous reaffirmation
of our current borrowing base. Ever mindful of the challenging
pandemic and related volatility, I would like to thank our
sixteen-member bank group for their support of our differentiated
business strategy through lending and other services that support
our hedging and financing activities. The reaffirmation solidifies
our liquidity as we continue to evaluate opportunities to create
stakeholder value by enlarging our portfolio of producing and
midstream assets over which we can deploy our Smarter Asset
Management programmes."
The Company's next scheduled redetermination will occur during
the fourth quarter of 2021.
For additional information, please contact:
Diversified Gas & Oil PLC +1 205 408 0909
Teresa Odom, Vice President, Investor
Relations
www.dgoc.com
ir@dgoc.com
Buchanan +44 20 7466 5000
Financial Public Relations
Ben Romney
Chris Judd
Kelsey Traynor
James Husband
dgo@buchanan.uk.com
About Diversified Gas & Oil PLC
Diversified Gas & Oil PLC is an independent energy company
engaged in the production, marketing and transportation of
primarily natural gas related to its synergistic US onshore
upstream and midstream assets.
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