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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April 08, 2021 02:00 ET (06:00 GMT)