DEUTSCHE ROHSTOFF AG (FRA:DR0) Deutsche Rohstoff AG: Salt Creek participates in Occidental drilling program
Transparency directive : regulatory news
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DGAP-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Miscellaneous Deutsche Rohstoff AG: Salt Creek participates in Occidental drilling program Mannheim. Salt Creek Oil & Gas, a wholly owned subsidiary of Deutsche Rohstoff AG (FRA: DR0), has signed a contract to participate in 18 development wells in the Powder River Basin/Wyoming, USA. Drilling will commence during the first quarter 2022. Over a 12-month period, Salt Creek will invest approximately USD 65 million. Mannheim, 2 February 2022 Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold and tungsten complete the portfolio. Further information can be found at www.rohstoff.de Contact Information and Explanation of the Issuer to this News: Explanatory Note: Occidental ('Oxy', NYSE: OXY) is one of the largest oil and gas producers in the United States. Among other assets, the company holds a significant acreage position in the southern Powder River Basin. The drilling is taking place in a well-developed part of the field where there are already a large number of producing wells. Production is expected to come online in the second half of 2022 and the first half of 2023. Thomas Gutschlag, CEO of Deutsche Rohstoff, commented, 'We are pleased to participate in drilling operations by a world-class operator such as Oxy. The wells will be a significant contributor to our revenues and earnings from 2023 to 2025. Given the proximity to Cub Creek and Bright Rock acreage, we also expect to gain additional insights for the development of our own acreage.'
02-Feb-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Q7, 24 | |
| 68161 Mannheim | |
| Germany | |
| Phone: | 0621 490 817 0 |
| Fax: | 0621 490 817 22 |
| E-mail: | gutschlag@rohstoff.de |
| 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 |
| EQS News ID: | 1274817 |
| End of Announcement | DGAP News Service |
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1274817 02-Feb-2022 CET/CEST