Diamond I's Oil and Gas Strategy Brings Abundance of Proposals
Diamond I, Inc. has received numerous oil and gas proposals, since it announced its diversification into the oil and gas industry. In the current environment of $90-per-barrel oil, the company expects that it will continue to receive a high volume of proposals. From the gathered proposals, management intends to select DMOI's next oil and gas project, one that brings near-term production without sacrificing DMOI's long-term success.
"We are understandably excited by the reaction to our entry into the oil and gas marketplace," said DMOI's CEO David Loflin. "With our six-well deal already in hand, we are intent on taking advantage of the existing momentum," added Mr. Loflin.