RDG Acquires Interests in Southern German Oil Concessions from Wintershall Dea
RDG GmbH & Co. KG, an independent German E&P company backed by alternative investment firm Petroleum Equity LLP, has entered into an agreement with Wintershall Dea GmbH to acquire operated participating interests in certain oil concessions located primarily in southern Germany. The financial terms of the transaction have not been disclosed. The acquisition includes interests in the Aitingen (33.33%), Schwabmuenchen (100%), Lauben / Bedernau (50%) and Hebertshausen (100%) concessions 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. Combined average daily production from the interests is approximately 1,000 barrels of oil equivalent (boe) per day. The transaction is expected to close during H1 2020.