DEUTSCHE ROHSTOFF AG (FRA:DR0) Deutsche Rohstoff AG: Bright Rock acquires additional acreage in Wyoming
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DGAP-News: Deutsche Rohstoff AG
/ Key word(s): Miscellaneous
Deutsche Rohstoff AG: Bright Rock acquires additional acreage in Wyoming Mannheim/Denver. Bright Rock Energy has signed a purchase and sales agreement for acreage in the Powder River Basin in Wyoming. The acreage is approximately 9,500 acres (38 square kilometers). As usual, due diligence on the asset will take place in the coming weeks. The transaction is scheduled to close mid-March. The parties have agreed not to disclose the purchase price. To date, there are no producing wells on the newly acquired acreage. Upon further study and well permitting, the goal is to drill appraisal wells demonstrating the production capability of the new asset. Development drilling would follow. Bright Rock is also pleased to give an update on the Buster well which came online in November 2021. In its first 90 days after clean-up, it produced an average of 805 barrels of oil per day, or 68,000 barrels in total, continuing to exceed expectations. After the first three months of production, the well has paid back roughly one third of the funds invested. Using recent strip pricing, this well result is expected to acheive 79% IRR with a 1.1 yr payout. Bright Rock owns 100% working interest in the well. Mannheim, 17 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
17.02.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| 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: | 1281639 |
| End of News | DGAP News Service |
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1281639 17.02.2022