Diversified Gas & Oil Securitizes Appalachian Wells to Raise $200M

Diversified Gas & Oil owns close to 8 million acres of leases with some 60,000 (mostly) conventional oil and gas wells. Their focus has been to acquire quality production and cash flow--regardless of the well or commodity type (gas or oil). They currently have over 400 shale wells in their portfolio. Diversified has just closed on a deal to raise more money via securitization--meaning to issue securities ("notes") based on the value of their gas wells. It will raise a reported $200 million for the company. The securitization transaction is being called "groundbreaking."

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