Wintershall Dea to Sell Several Operated Interests in Germany to RDG

Updated 1 year 5 months ago

In January 2020, Wintershall Dea entered an agreement to sell operated interests in several oil concessions mainly located in southern Germany to RDG Energy. Concessions include Aitingen (33.33%), Schwabmuenchen (100%), Lauben/Bedernau (50%), and Hebertshausen (100%), all located in Bavaria, as well as the Landau concession (66.67%) in Rhineland-Palatinate, the Tannheim/Engelsberg concession (50%) in Baden-Württemberg, and the Suderbruch concession (100%) in Lower Saxony. The licenses contribute around 1,000 barrels of oil equivalent per day to production. The transaction is expected to close in the first half of 2020 at which point all Wintershall Dea employees in southern Germany will be transferred to RDG.