09.03.2017
Deutsche Rohstoff AG DE000A0XYG76
DGAP-News: Deutsche Rohstoff AG: Cub Creek reports increasing production
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Cub Creek reports increasing production
09.03.2017 / 20:00
The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff: Cub Creek reports increasing production
8,223 gross boepd in February/ 470,556 gross barrel of oil equivalent
produced through February 2017
Mannheim/Denver. Cub Creek Energy (CCE) published today that its two pads in
the DJ basin continued to deliver excellent results in February. Both pads
combined produced 8,223 gross barrel of oil equivalent per day (boepd; 6,358
barrel of oil) during the month compared to 7,752 gross boepd (6,438 gross
barrel of oil) in January 2017. Cub Creek's overall production reached
230,244 gross boe (179,620 gross barrel of oil) in February 2017 (January:
240,312 gross boe/199,578 gross barrel of oil). February had three
production days less than January. Estimated Net Revenue for January and
February combined is expected to reach approximately USD 13.24 million.
In addition, Cub Creek reported the 90-day average production for its Vail
pad (Initial Production 90 days, IP 90) which came in at 4,065 boepd (3,296
barrel of oil per day) and the 60 day average for its Markham pad (IP 60),
which amounted to 4,257 boepd (3,503 barrel of oil per day). Both pads are
significantly producing above expectations. Compared to the type curves used
in the reserve report dated May 2016, the Vail pad exceeded gross oil
production forecast by 59%, the Markham pad by 23%. Both pads faced
operational challenges due to high line pressure over most of the reported
period.
Cub Creek is currently preparing nine more wells to be drilled from its
Hailey pad. Drilling will commence in the second half of March. CCE's
working interest in these wells will amount to approximately 78 %.
Mannheim, 9 March 2017
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.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag, CEO
Tel. +49 621 490 817 0
[email protected]
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09.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
Fax: 0621 490 817 22
E-mail: [email protected]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange; Open Market (Scale) in
Frankfurt
End of News DGAP News Service
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