Cub Creek

EQS-News: Deutsche Rohstoff AG: On track for record production in 2023 after first quarter

Retrieved on: 
星期六, 四月 15, 2023

Deutsche Rohstoff AG provides an overview of the highlights of its operating performance in the first quarter of 2023:

Key Points: 
  • Deutsche Rohstoff AG provides an overview of the highlights of its operating performance in the first quarter of 2023:
    Production in Q1 around 7% above expectations.
  • Utah production in Q1 was approximately 30% above reserve estimate, well ahead of plan
    In the first quarter of the year, production was approximately 10,500 BOEPD, slightly above management's expectations.
  • With this production, the Group is on track for the expected annual production of well over 10,000 BOEPD.
  • In the 2nd and 3rd quarter in particular, numerous well pads will start production and further increase production.

EQS-News: Deutsche Rohstoff AG: Further production growth expected for 2023 after strong year 2022

Retrieved on: 
星期三, 三月 1, 2023

Deutsche Rohstoff AG today provided an overview of the operational development in 2022 and the outlook for 2023.

Key Points: 
  • Deutsche Rohstoff AG today provided an overview of the operational development in 2022 and the outlook for 2023.
  • In line with the forecast, 2022 was a record year for Deutsche Rohstoff in terms of sales and earnings.
  • Operating cash flow from oil & gas production after production taxes, hedging and operating costs was over EUR 130 million.
  • The enormous production base from 2022, the new wells and the high capital expenditures will result that production in 2023 will be significantly above 2022.

EQS-News: Deutsche Rohstoff AG: Update on oil and gas activities

Retrieved on: 
星期日, 一月 22, 2023

Deutsche Rohstoff AG's oil and gas activities continue to develop very positively.

Key Points: 
  • Deutsche Rohstoff AG's oil and gas activities continue to develop very positively.
  • The well pad produced approximately 11,000 barrels of oil per day (BOPD) over the past 60 days, contributing approximately net 52,000 BO to the group's production.
  • The production is well above Deutsche Rohstoff AG's expectation.
  • The wells drilled as part of the cooperation with Oxy in Wyoming are also developing very positively and are expected to be above Deutsche Rohstoff AG's internal expectations.

DGAP-News: Deutsche Rohstoff AG: Strongest operating half-year in company history

Retrieved on: 
星期三, 八月 10, 2022

Operating cash flow from oil production in the USA and income from the investment portfolio amounted to EUR 62,6 million (previous year EUR 36.8 million).

Key Points: 
  • Operating cash flow from oil production in the USA and income from the investment portfolio amounted to EUR 62,6 million (previous year EUR 36.8 million).
  • Cash and cash equivalents* increased to around EUR 79.8 million as of 30 June 2022.
  • The Management Board of Deutsche Rohstoff AG will hold a Web-Call (in German) on the first half-year results on Thursday, 11 August 2022 at 10:30 a.m.
  • Deutsche Rohstoff identifies, develops and disposes of attractive raw material deposits in North America, Australia and Europe.

DGAP-News: Deutsche Rohstoff AG: Cub Creek Energy starts production from Knight well pad

Retrieved on: 
星期一, 十一月 22, 2021

Cub Creek Energy, one of Deutsche Rohstoff's subsidiaries in the USA, has started producing oil and gas from twelve new horizontal wells.

Key Points: 
  • Cub Creek Energy, one of Deutsche Rohstoff's subsidiaries in the USA, has started producing oil and gas from twelve new horizontal wells.
  • The capital expenditure is approximately USD 60 million, of which Cub Creek accounts for approximately USD 52 million.
  • This is the most extensive drilling program that Deutsche Rohstoff has carried out in the USA to date.
  • Cub Creek expects high production from the Knight wells.

DGAP-News: Deutsche Rohstoff AG: First well in Wyoming starts with the production of oil and gas

Retrieved on: 
星期三, 十月 27, 2021

Bright Rock Energy has begun producing oil and gas from its first well on its last year acquired acreage in the state of Wyoming.

Key Points: 
  • Bright Rock Energy has begun producing oil and gas from its first well on its last year acquired acreage in the state of Wyoming.
  • At the moment, final work such as connection to oil and gas pipelines as well as setting up the surface equipment is taking place.
  • 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.

DGAP-News: Deutsche Rohstoff AG: Cub Creek Energy successfully completes purchase of acreage in Wyoming

Retrieved on: 
星期一, 十月 18, 2021

Cub Creek Energy has completed the purchase of approximately 30,000 net acres (121 square kilometers) in Wyoming, USA.

Key Points: 
  • Cub Creek Energy has completed the purchase of approximately 30,000 net acres (121 square kilometers) in Wyoming, USA.
  • Cub Creek had signed a purchase agreement in early September and the due diligence check did not reveal any negative findings.
  • At the same time, Cub Creek will apply for drilling permits in order to be able to start a first drilling program next year.
  • Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe.

DGAP-News: Deutsche Rohstoff AG: Cub Creek Energy signs Purchase and Sale Agreement for Wyoming assets

Retrieved on: 
星期五, 九月 3, 2021

Cub Creek Energy has signed a purchase agreement covering approximately 30,000 net leasehold acres (121 square kilometers) located in Wyoming/USA.

Key Points: 
  • Cub Creek Energy has signed a purchase agreement covering approximately 30,000 net leasehold acres (121 square kilometers) located in Wyoming/USA.
  • In addition to the acres, the purchase agreement includes working interest in 17 producing wells with approximately 804 BOE of net daily production (as of August 2021).
  • Thomas Gutschlag, CEO of Deutsche Rohstoff AG, commented: "With this acquisition, Cub Creek Energy buys profitable production and opens up a large potential for long term development drilling.
  • Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe.

DGAP-News: Deutsche Rohstoff AG: Strong financial result in the first half of 2021

Retrieved on: 
星期四, 八月 5, 2021

The very good half-year result also has a positive impact on the group balance sheet.

Key Points: 
  • The very good half-year result also has a positive impact on the group balance sheet.
  • Cash and cash equivalents (cash + non-current and current securities + current receivables) increased to around EUR 71.3 million as of 30 June 2021 (31 Dec 2020: EUR 46.9 million).
  • The Group's equity increased significantly to EUR 66.2 million as of 30 June 2021 (31 Dec 2020: EUR 45.6 million).
  • The share price of Deutsche Rohstoff AG approximately doubled in the first half of the year compared to the end of 2020.

DGAP-News: Deutsche Rohstoff AG: Cub Creek starts drilling from Knight pad

Retrieved on: 
星期五, 二月 5, 2021

As of today, Cub Creek Energy begins drilling from the Knight pad, which is directly adjacent to the Olander pad to the west.

Key Points: 
  • As of today, Cub Creek Energy begins drilling from the Knight pad, which is directly adjacent to the Olander pad to the west.
  • Financing will come from high existing cash flows from existing production, existing funds in the Group and a revolving credit line at Cub Creek.
  • For February, Cub Creek expects daily rates to continue to increase.
  • Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe.