Diversified Gas and Oil HY results webinar
Diversified Gas & Oil PLC (DGO) is an established, independent owner and operator of producing natural gas & oil wells concentrated in the Appalachian Basin in the United States. Their field operations are densely located throughout the neighboring states of Tennessee, Kentucky, Virginia, West Virginia, Ohio, and Pennsylvania, where they are one of the largest independent conventional producers.
They have grown rapidly over the last few years, capitalising upon opportunities to acquire and enhance producing assets in our region of focus, and leveraging the operating efficiencies that come with economies of scale.
Diversified has distributed regular and increasing dividends to shareholders and targets shareholder returns of 40% of Free Cash Flow.
Rusty Hutson Jr. is a fourth generation oil man. After graduating with a degree in accounting, Rusty spent 13 years in a variety of roles in the banking industry culminating as CFO of Compass Financial Services. He founded Diversified Gas and Oil in 2001 with a strategy to acquire cash generating mature and predictable long life assets and took the company public in 2007 on the AIM market of the London Stock Exchange. The company moved to a premium listing on the main market in 2010. Rusty has acquired nearly $1.8bn of Appalachian upstream and midstream assets with a net daily production of approximately 112,000 barrels of oil equivalency and continues to lead his team and expand the company’s footprint in the Appalachian Basin.
Eric joined Diversified in July 2017 from Callon Petroleum. During Eric’s more than seven-year tenure with Callon, the company grew significantly from a market capitalization of US $40 million to over US $3.5 billion, successfully transforming itself from a deep-water asset focused company to an onshore, pure-play horizontal drilling operator in the Permian Basin. He began his career at the widely renowned public auditing firm of Price Waterhouse Coopers in Birmingham, Alabama. Eric has served in various roles including internal audit with a focus on Sarbanes Oxley implementation and compliance, controllership and financial reporting for several US publicly-traded companies.