3 Apr 2017 07:00
03 April 2017
Diversified Gas & Oil PLC
("DGO" or the "Company")
Strengthening Management Team Structure
Diversified Gas & Oil PLC (AIM: DGOC), a US based gas and oil producer, is pleased to announce the effective restructuring of its operational management team with immediate effect.
With the recent growth in the business, it is intended that the restructuring will improve the management and reporting lines across DGO's portfolio of producing wells in Ohio, Pennsylvania and West Virginia. Rusty Hutson, Sr. becomes Vice President of Operations Ohio and West Virginia and Drew Adamo is being promoted to Vice President of Operations Pennsylvania, both of whom will be responsible for the leadership of field operations in their respective states.
Tim Altier was previously Production Manager for the Ohio operations and is now assuming the new role of Vice President of Corporate Development. He will report directly to Chief Operating Officer and Finance Director, Brad Gray. The role will support both operating and corporate activities across the business.
Rusty Hutson, Jr., Chief Executive Officer of DGO, said:
"This is an important step in the DGO story and it is imperative that our internal management structure continues to evolve as we execute our strategy and grow the business. I wish to congratulate Rusty, Drew and Tim on their appointments and to all those in the Company that are taking up new positions within our management structure - it is great that have the depth of capability to promote internally and nurture local talent.
Ultimately, it is intended that this exercise will help shape DGO's future and ensure the company continues to operate effectively, ultimately delivering increased value to our stakeholders."
Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Brad Gray, Finance Director www.diversifiedgasandoil.com
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Smith & Williamson Corporate Finance Limited (Nominated Adviser & Joint Broker) Russell Cook Katy Birkin
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Mirabaud Securities LLP (Lead Broker) Peter Krens Edward Haig-Thomas
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Buchanan (Financial Public Relations) Ben Romney Chris Judd Henry Wilson dgo@buchanan.uk.com
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About Diversified Gas & Oil
Diversified Gas & Oil PLC owns and operates gas and oil producing wells in the Appalachian Basin, one of the largest oil and gas fields in the US. The Company was founded in 2001 and has grown rapidly in recent years, capitalising upon opportunities to acquire conventional, low risk gas and oil producing assets. After the completion of its most recent acquisition, DGO will have a total, gross daily production of approximately 30,000 Mcfd and 585 bopd. DGO was admitted to trading on AIM in February 2017, raising $50 million from institutional and other investors.