Deutsche Rohstoff AG Provides Update on US Oil & Gas Activities

Deutsche Rohstoff AG's oil and gas sector showed strong growth in Q2 2024, with daily production reaching 14,800 BOEPD in the first half. This aligns with their April guidance. The oil share was 58%, with WTI averaging USD 79.74 per barrel.

In the Salt Creek-Oxy partnership, 10 mid-March wells averaged 700 barrels/day in April and May. Maintenance in June reduced output slightly, but production increased in July.

Bright Rock Energy's three new wells began production in June and exceeded expectations. Two wells yielded high results, with a third set for a workover to reach full capacity.

1876 Resources drilled six of its planned eight to ten wells for 2024. Initial production from three wells recently began and exceeded budget forecasts. Wells initiated in late 2023 and early 2024 also performed above projections.