Neptune to acquire interests in German oil and gas fields

Neptune Energy agreed to acquire additional interests in certain oil and gas fields in Germany from Wintershall DEA.

The agreement will increase Neptune’s existing interest in the Bramberge, Meppen, and Annaveen oil fields in the Emsland region and in various gas fields in the Grafschaft Bentheim region, and add 6,001 boe/d of net production to Neptune’s output in Germany – a 5% increase.

Neptune is a joint venture partner in the assets and operates Bramberge oil field and the Grafschaft Bentheim gas fields.

Subject to approvals, the deal is expected to close in this year’s third quarter.

This announcement builds on Neptune’s plans for additional projects in north-west Germany.

Together with its partner, the company plans to drill a gas well, Adorf Z15, in this year’s second half.

The well-pad in the municipality of Hoogstede has been constructed.

Source: Oil & Gas Journal