AI Terminal
Deutsche Rohstoff AG
Earnings Release • Feb 22, 2019
4514_rns_2019-02-22_e0d82074-a43f-415f-9370-84dd86ecd3ca.html
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 22 February 2019 13:36
Deutsche Rohstoff AG: Production of Salt Creek rises to over 200 barrels per day
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
22.02.2019 / 13:36
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff AG: Production of Salt Creek rises to over 200 barrels per day
Mannheim/Denver . Salt Creek Oil & Gas has successfully completed two acquisitions with an investment volume of USD 5.4 million.
The company acquired a total of 300 mineral acres in the core area of the Williston Basin in North Dakota. These royalties currently account for around 220 barrels of production per day. Additional drilling locations are expected to be developed in the coming years, which would entitle Salt Creek to further production. Since the mineral acres represent a royalty interest, Salt Creek will not have to make a financial contribution to new drilling. Attributable existing production in 2019 is expected to account for total cash flow from operations of USD 1.9 Million at current pricing.
Salt Creek had sold most of its acreage in spring 2018. Before the acquisition net production from the remaining acreage came in at around 20 barrels per day in recent months.
Since September, the company has been headed by Chris Kiesel, who has been with the company for three years. Salt Creek currently has no other employees.
Mannheim, 22. February 2019
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
Dr. Thomas Gutschlag
Tel. +49 621 490817 0
22.02.2019 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: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |