- Gas and oil company Diversified Gas & Oil said it had signed a conditional purchase and sale agreement to acquire certain conventional Appalachian upstream and midstream assets from Carbon Energy for $110m.

The transaction, subject to ongoing due diligence, which DGO would complete to its satisfaction prior to confirming the final terms, including the gross purchase price, which was expected to approximate $110m, the company said.

The assets were located within DGO's existing West Virginia, Kentucky and Tennessee footprint and further increase its operating scale and efficiencies.

'These assets, strategically located in our existing area of operations, will allow us to leverage our talented field personnel and Smarter Well Management program across additional assets as we relentlessly drive operating efficiencies and cost savings,' the company said.

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