Press

Wedlake Bell Successfully Advises Diversified Gas & Oil PLC on Major Capital Markets Transaction

Posted by OilVoice Press - OilVoice

23-Jul-2018


London law firm Wedlake Bell LLP has advised Diversified Gas & Oil PLC ("DGO") on its acquisition from EQT Corporation ("EQT") of approximately 11,250 additional producing wells located in the states of Kentucky, West Virginia and Virginia for $575 million using gross proceeds of (i) a $250 million placing of new shares on AIM and (ii) a new revolving debt facility of up to $1 billion.    This is the largest acquisition by an oil & gas company in the history of AIM and because of its size, the acquisition constitutes a reverse takeover under the AIM Rules. The transaction was approved by DGO's shareholders at the company's General Meeting on 16 July and the shares were admitted to trading on AIM at 8am on 17 July. The acquisition of the EQT entities in the US was completed on 18 July.

DGO is a United States based gas and oil producer already operating over 40,000 wells across the states of Ohio, Pennsylvania, West Virginia and North-East Tennessee. The strategic acquisition from EQT is part of DGO's growth plan to build its oil and gas assets across the US.

The Wedlake Bell Team who advised on the transaction was led by Corporate Partner Martin Thomas, who recently joined the firm to head up its capital markets practice.  Martin has advised DGO on all of its capital markets transactions over the past 4 years.

Wedlake Bell Corporate Partner Edward Craft, Senior Associate Kam Lally, Solicitor Alex Green and Trainee Solicitor Omar Amin also assisted with the transaction. Crowe acted as reporting accountant to the transaction and the legal advisers to DGO's Nominated Adviser (Smith & Williamson) and Joint Brokers (Mirabaud and Stifel) were Fieldfisher LLP.

Rusty Hutson, Chief Executive Officer of Diversified Gas & Oil PLC, says:

“We had no hesitation turning again to Martin Thomas in late June 2018 to advise us on our latest and largest AIM fundraising to date.  As always, Martin and his team at Wedlake Bell were extremely supportive, proactive and professional. I would certainly recommend Martin and his colleagues to other growing international companies.”

Martin Thomas, Corporate Partner at Wedlake Bell, comments:

“We are pleased that we have been able to achieve the desired result for our client in what was a large and complex deal to advise on. The depth of expertise on AIM amongst the team at Wedlake Bell was a great asset in this transaction. I am proud of my long-standing relationship with Diversified Gas & Oil and I look forward to working with them again in the future.”



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Wedlake BellDOGDiversified Gas & OilEQT Corporation

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 1 year agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 1 year agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 1 year agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 1 year agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 1 year agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice