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Diversified Gas & Oil confirms strong finish to 2018

The acquisitive oiler lifted its guidance at the beginning of December and said today that trading in the final few weeks also “remained strong”
oil workers at drill site
Diversified produces around 70,000 barrels of oil equivalent per day

Acquisitive oiler Diversified Gas & Oil PLC (LON:DGOC) has confirmed that trading in the final weeks of 2018 “remained strong”.

Having spent almost US$1bn on parcels of wells, acreage and infrastructure, the AIM company currently produces around 70,000 barrels of oil equivalent per day (boepd) – a level of output beyond the dreams of even the junior market’s most ambitious explorers.

READ: DGOC’s acquisitive production business is paying off faster than expected

Last month, Diversified told investors that its 2018 results would be “materially ahead” of expectations. Given the solid finish to the year, it still expects to meet the improved guidance.

Full-year results for the 12 months ended 31 December will be published on 28 February.

Shares climbed 1.1% to 115.3p in early deals on Thursday.

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