DGAP-Adhoc: Deutsche Rohstoff AG: Salt Creek participates in Occidental drilling program

DGAP-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Salt Creek participates in Occidental drilling program

02-Feb-2022 / 16:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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.'

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