As oil and gas companies face a hard-scrabble commodity price environment, E&Ps and participants in other industry sectors are already rushing to restructuring advisers in hopes of staving off cash flow calamities, unpaid debts and bankruptcies.
Diversified Gas & Oil’s EQT bolt-on, and an earlier deal with Carbon Energy, add upstream and midstream Appalachia assets primarily in West Virginia and Pennsylvania.
Diversified Gas & Oil initially offered $165 million for Carbon Energy’s Appalachia conventional assets in February 2018.
Harold Hamm, chairman and founder of Continental Resources, points to announcements made by the Chicago Mercantile Exchange preceding the 306% plunge in WTI on April 20.
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