Deutsche Rohstoff AG: Cub Creek publishes initial production data from new wells
Deutsche Rohstoff: Cub Creek publishes initial production data from new wells 3.578 BoE/No full production yet
Mannheim. Cub Creek Energy (CCE), an 80% subsidiary of Deutsche Rohstoff AG, has produced an average of 3,578 BOE per day from its nine wells on the Vail pad since 28 November 2016, after initial well clean up was completed on all wells. When considering this production stream, 3,077 BOE average daily production come from oil with the remainder being natural gas and condensates. Oil production is slightly above expectations.
Actual production capacities are expected to be higher than current levels. Higher than anticipated line pressures are currently restricting production to the realized levels. Individual well performance tests indicate that higher production performance and corresponding reserve expectations can be realized at lower line pressures. The current level of pad production is expected to remain flat for the next few months if the current high line pressure restriction persists.
Bob Gardner, CEO of Cub Creek Energy, said: "We are pleased with the initial production of the Vail wells. Despite high line pressure restrictions, these wells are producing according to our expectations. These wells at the Vail pad can exceed our investment goals."
Mannheim, 16 December 2016
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.
Deutsche Rohstoff AG Thomas Gutschlag Tel. +49 6221 871 000 firstname.lastname@example.org
16-Dec-2016 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: Deutsche Rohstoff AG N1, 1 (Stadthaus), 3. Etage 68161 Mannheim Germany Phone: 06221-87100-11 Fax: 06221-87100-22 E-mail: email@example.com Internet: www.rohstoff.de ISIN: DE000A0XYG76, DE000A1R07G4, WKN: A0XYG7, A1R07G Indices: Entry Standard (Performance TOP 30) Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt
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