Diversified Gas & Oil, the U.S.-based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets, has completed its purchase of upstream and related infrastructure assets from EQT Corp. for US$125 million.
The purchase price included 900 net operating wells and related gathering infrastructure. Of that amount, 833 are conventional vertical producing wells in West Virginia and 67 are horizontal producing wells in Pennsylvania.
This isn’t the first transaction between the two companies. Diversified Gas & Oil and EQT previously authorized a US$575 million purchase of Appalachian assets in 2018.