February 12, 2018 / 4:24 PM / 8 days ago

BRIEF-Diversified Gas & Oil Buys Some Assets of CNX and Alliance for $180 Mln

Feb 12 (Reuters) - Diversified Gas & Oil Plc:

* DIVERSIFIED GAS & OIL ACQUISITIONS TO INCREASE PRODUCTION BY NEARLY 175 PERCENT

* DIVERSIFIED GAS & OIL - ENTERED CONDITIONAL PURCHASE & SALE AGREEMENTS FOR ACQUISITIONS OF ALLIANCE PETROLEUM & APPALACHIAN ASSETS OF CNX RESOURCES

* DIVERSIFIED GAS & OIL PLC - DEAL FOR COMBINED PURCHASE PRICE OF $180 MILLION

* DIVERSIFIED GAS & OIL PLC - INTENDS TO FUND CASH PURCHASE PRICE WITH CURRENT CASH BALANCE, NET PROCEEDS OF RECENTLY COMPLETED EQUITY OFFERING

* DIVERSIFIED GAS & OIL PLC - WOULD ASSUME OPERATIONS OF CNX‘S CONVENTIONAL NATURAL GAS ASSETS WITH PRODUCTION OF 54,000 MCFE/D OR 9,000 BOE/D

* DIVERSIFIED GAS & OIL PLC - PROPOSED DEAL WILL INCREASE CO‘S TOTAL PROVED DEVELOPED PRODUCING RESERVES TO 173 MILLION BOE Source text for Eikon: Further company coverage:

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