Diversified Agrees to Plug an Extra 2 Wells per Year in Ohio

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)--in the Appalachian Basin. They currently have over 400 Marcellus/Utica shale wells in their portfolio too. When a gas or oil well quits producing, it needs to be plugged. We were aware of deals Diversified has cut with both Pennsylvania and West Virginia to plug old, non-producing wells (see DEP and Diversified Gas & Oil Compromise on Plugging Old PA Wells and Diversified Deal in WV to Plug 730 Abandoned Wells Over 15 Years). It turns out Diversified also has a deal in place with Ohio to plug old wells, a deal that was recently modified.

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