Diversified G&O Update: 30% of Production Comes from Shale

Diversified Gas & Oil (DGO) 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. DGO currently owns over 400 Marcellus/Utica shale wells in their portfolio too. Earlier this week the company issued its fourth-quarter and full-year 2020 update. Although the company reported a $23 million loss for 2020 (versus making $99 million in 2019), CEO Rusty Hutson says he is "exceptionally pleased with our results in 2020" and the way the company navigated a turbulent 2020.

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