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Diversified Gas & Oil buys EQT assets in southern West Virginia


Charleston Gazette-Mail

Diversified Gas & Oil has acquired EQT assets in areas shaded orange on this map. The areas shaded green feature already established Diversified assets.
(Diversified Gas & Oil graphic)

CHARLESTON, W.Va. — An Alabama-based oil and gas company bought a swath of EQT assets in the southern half of West Virginia, along with other spots in Appalachia, earlier this month.

The $575 million deal between Diversified Gas & Oil and drilling company EQT closed July 18, with Diversified assuming the operations of more than 11,000 EQT wells in West Virginia, Kentucky and Virginia. Diversified also acquired more than 6,400 miles of gathering pipe and 59 compressor stations.

According to a Diversified spokeswoman, wells from Lewis and Barbour counties in north-central West Virginia down to its southern border have been acquired by the company in the deal. The Pittsburgh-based EQT, though, says it “will retain the deep drilling rights across the acreage,” which amounts to roughly 2.5 million acres total.

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