Neptune Energy, a UK-based oil and gas exploration and production company, has signed an agreement to acquire Wintershall Dea’s interests in several oil and gas fields in Germany.
The assets considered for acquisition are in the Emsland and the Grafschaft Bentheim region of Germany.
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Neptune expects the deal to increase its existing interests in the Adorf, Apeldorn, and Ringe gas fields and in the Adorf-Scheerhorn, Georgsdorf, and Ringe oil fields.
The deal is also expected to add approximately 1,800 barrels of oil equivalent per day (boepd) to Neptune’s Germany production portfolio. It represents an increase of approximately 10%.
All fields that are being acquired from Wintershall Dea are operated by Neptune, except for the Georgsdorf oil field.
The financial terms of the deal have not been disclosed.
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By GlobalDataIn 2019, Neptune acquired Wintershall Dea’s interests in other fields of the Grafschaft Bentheim and Emsland region. It added approximately 600 boepd to Neptune’s German production portfolio.
Neptune Energy Germany managing director Andreas Scheck said: “Increasing our interest in these fields is of strategic importance for us, enhancing our production and underlining our commitment to a key producing area in Germany.
“We have been an operator or partner in these fields for many years and are well-positioned to leverage our experience in this region, which has long-term potential for energy production.”
The transaction is scheduled to be completed in the first half of 2021, subject to partner approvals.
