AI Terminal
Deutsche Rohstoff AG
Earnings Release • Dec 13, 2017
4514_rns_2017-12-13_3f672b00-9205-4353-9152-1f8cb0e49b8b.html
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 13 December 2017 14:30
Deutsche Rohstoff AG: Salt Creek boosts production in October by 61%
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
13.12.2017 / 14:30
The issuer is solely responsible for the content of this announcement.
**Deutsche Rohstoff: Salt Creek boosts production in October by 61%
Net production jumps over 1,000 barrels of oil equivalent per day**
Mannheim/Denver. Salt Creek Oil & Gas, a 90% subsidiary of Deutsche Rohstoff AG, increased its net production during October 2017 to 1,053 barrels of oil equivalent per day (boepd). Average production in the first nine months 2017 amounted to 653 boepd. Main driver for the 61% increase are six new wells operated by Hess Corporation which were brought into production during September. Salt Creek holds a 9.375% working interest in these wells.
In the coming weeks, Hess Corporation plans to add another five wells, in which Salt Creek has a working interest of around 12.5%. Overall, Salt Creek expects to be involved in approximately 25 new wells in the coming quarters due to drilling proposals received so far.
Mannheim, 13 December 2017
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 621 490 817 0
13.12.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Q7, 24 | |
| 68161 Mannheim | |
| Germany | |
| Phone: | 0621 490 817 0 |
| Fax: | 0621 490 817 22 |
| E-mail: | [email protected] |
| Internet: | www.rohstoff.de |
| ISIN: | DE000A0XYG76, DE000A1R07G4, |
| WKN: | A0XYG7, A1R07G |
| Indices: | Entry Standard (Performance TOP 30) |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |