Deutsche Rohstoff's Salt Creek Oil & Gas Sells Utah Assets: A Game Changer?

• Deutsche Rohstoff AG's subsidiary, Salt Creek Oil & Gas LLC, has sold all of its Utah assets in two transactions.
• The assets consisted of around 250 non-operated wells with an average working interest of 2.3%.
• The sale of the Utah assets generated an income of EUR 17 million in Q4 and increased the Group's liquidity by around EUR 44 million.
• The 2023 forecast for the Group has been increased, with sales remaining unchanged at EUR 188 to 198 million and EBITDA now expected to be EUR 152 to 162 million.
• The 2024 forecast has been reduced due to the transaction, with group sales now expected to be EUR 175 to 195 million and EBITDA expected to be EUR 130 to 145 million.
• The transaction is expected to be completed by the end of the year, subject to the usual reservations regarding the review of the buyers and purchase price adjustment rules.

The price of Deutsche Rohstoff at the time of the news was 33,40EUR and was up +3,41 % compared with the previous day.
3 minutes after the article was published, the price was 33,80EUR this corresponds to a plus of +1,20 % since publication.

Deutsche Rohstoff

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-3,73 %

-11,74 %

+23,54 %

+47,15 %

+150,49 %

+132,29 %

+66,15 %

+360,55 %

ISIN:DE000A0XYG76WKN:A0XYG7

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