Diversified Gas & Oil to Acquire Titan Energy’s Appalachia and Marcellus Assets for $84.2 Million
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Titan Energy, LLC said Friday it is selling its conventional Appalachia and Marcellus assets to Diversified Gas & Oil PLC for $84.2 million.
The company said in a news release the transaction includes 8,400 oil and gas wells across Pennsylvania, Ohio, Tennessee, New York and West Virginia, along with associated infrastructure.
In 2016, the assets generated approximately 30 million cubic feet per day of natural gas.
Titan said it is retaining its Utica Shale position, as well as coalbed methane assets in Indiana and West Virginia.
Titan CEO Daniel Herz said the sale will enable the company to continue its focus on development of the Eagle Ford Shale in West Texas.
The transaction is expected to close in June. Upon its conclusion, Titan will relocate its headquarters to Fort Worth, Texas.
Source: (May 5, 2017) Observer-Reporter
To stop by Diversified’s website, CLICK HERE
To stop by Titan’s website, CLICK HERE
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