Gas Field Services, LLC Announces Strategic Divestment
August 3, 2020
Gas Field Services, LLC, headquartered in Rosedale, Virginia, is pleased to announce the sale of its West Virginia based conventional well tending assets and production operations to Diversified Gas & Oil PLC (LSE: DGOC).
The sale is effective August 1, 2020 and includes all personnel, vehicles, equipment, and tools that were employed in the tending and related operation of most of DGOC’s shallow, conventional wells across West Virginia. The divestiture includes the transfer of over 50 highly skilled employees and the closing of Gas Field Service’s office in Beckley, West Virginia. Gas Field Services will retain and continue to offer water hauling and disposal services to Diversified and other customers at its disposal well located in Camp Creek, West Virginia.
The sale is another step in the execution of Gas Field Service’s strategy to become even more focused on providing water hauling and disposal services to the oil and gas exploration and production industry in northern West Virginia, southeast Ohio, and southwest Pennsylvania.
Tommy Shrader, President and Chief Executive Officer of Gas Field Services, commented:
“Gas Field Services has enjoyed our extensive working relationship with the DGO team, and we feel this transaction is a rare win-win for both companies. DGO is obtaining a very devoted and loyal workforce, one that values safety and compliance and one that is ready to step in and contribute to DGO’s growth on day one. At the same time, Gas Field will be able to increase focus on our growing water hauling and disposal services to the Marcellus and Utica Shale industry. I want to thank the impacted employees for their dedication and service to Gas Field Services and wish them nothing but continued success at Diversified Gas & Oil.”
Stay tuned for some additional big news from Gas Field Services soon!
