HG Energy II Appalachia LLC
Diversified Gas & Oil, known as DGO, expects to acquire over a hundred unconventional producing gas wells in the Appalachian Basin…
CEO David Stover said the sale enables Noble to further focus on its highest-return areas, including the Delaware Basin.
DGO To Transform With Proposed $400 Million Appalachia Acquisition
HG Energy II Appalachia LLC is an affiliate of HG Energy LLC, an independent producer of natural gas and oil in the Appalachian Basin. Privately owned and headquarterd in Parkersburg, W.Va., HG Energy owns and operates about 1,300 oil and gas wells in Ohio and West Virginia.
In 2017, HG Energy II purchased upstream Marcellus Shale assets in West Virginia and Pennsylvania comprised of 100% working interest in 385,000 acres with current production of about 415 million cubic feet equivalent per day (88% natural gas). The transaction closed June 2017 and was valued at about $1.225 billion.