Neptune Energy acquires interests in German O&G fields

Neptune Energy recently announced that it has agreed to acquire interests in certain oil and gas fields in Emsland and the Grafschaft Bentheim region in Germany from Wintershall Dea. 

The agreement will increase Neptune’s existing interest in the Bramberge, Meppen and Annaveen oilfields, located in the Emsland region and in various gas fields in the Grafschaft Bentheim region, adding approximately 6001 barrels of oil equivalent (boe) of daily net production to Neptune’s production in Germany – an increase of around 5%.

The transaction is subject to regulatory and partner approvals, with completion expected in the Q3 of 2019.

This announcement builds on Neptune’s commitment to developing additional projects in North-West Germany. Together with its partner, the company plans to drill a new gas well, Adorf Z15, in the H2 of this year. The well pad in the municipality of Hoogstede has already been constructed.

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