StockMarketWire.com - Diversified Gas & Oil said Monday that based on its year-to-date performance results for the full year were expected to be 'materially ahead' of current market expectations.

In the 10 months to 31 October 2018, total production 10,676 barrels of oil equivalency per day, and earnings (EBITDA) was $96.3m. Adjusted EBITDA was $23.6m in October.

Net daily production for September was about 60,000 barrels of oil equivalency per day, increasing to 70,000 barrels of oil equivalency per day.

Performance was boosted by the contribution from Core Appalachia operations acquired in October 2018 and continued strong performance from the company's previously integrated operations including the assets acquired from EQT in July 2018, the company said.

'We are very pleased with the progress we are making in terms of integrating the most recently acquired assets from Core and extracting maximum value from the expanded portfolio. As evidenced by our financial performance for the month of October, we have a highly profitable business underpinned by a healthy financial position, said DGO's CEO Rusty Hutson.

'The dynamics for natural gas pricing in our region are positive and we are benefitting from a material rise in local pricing. We continue to deliver on our commitment to either bring wells back onstream, having restored nearly 130 wells to production in the past 90 days, or to decommission them in a timely fashion. We continue to work with the relevant authorities in our States of operations to reach long-term decommissioning agreements that meet the needs of all parties.'


At 9:23am: [LON:DGOC] Diversified Gas Oil Plc share price was +9p at 115p



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