Deutsche Rohstoff Hits Record Production in 2023, Starts 2024 Strongly: Operational Update

• Deutsche Rohstoff AG reported record oil and gas production in 2023, with around 12,700 BOEPD, a 32% increase from the previous year and slightly above the forecast range of 12,000 to 12,500 BOEPD.
• The fourth quarter of 2023 marked the strongest quarter in the company's history with 15,300 BOEPD, largely due to the 9 wells brought into production at 1876 Resources and Salt Creek Oil & Gas.
• Production in the first two months of 2024 was around 20% above plan at approximately 15,500 BOEPD.
• The company expects revenues and EBITDA for 2023 to be in line with the forecast, with revenue of EUR 188 to 198 million and EBITDA of EUR 152 to 162 million.
• At Salt Creek Oil & Gas, the remaining 10 wells from the 31-well JV with Oxy are expected to start production at the beginning of the second quarter of 2024.
• Deutsche Rohstoff has expanded its hedging position due to the rise in WTI prices, with around 2 million barrels hedged at around USD 75/BBL for the years 2024 and 2025.

The next important date, Publication of Consolidated Financial Statements and Annual Report 2023, at Deutsche Rohstoff is on 30.04.2024.

The price of Deutsche Rohstoff at the time of the news was 32,35EUR and was up +0,54 % compared with the previous day.
13 minutes after the article was published, the price was 32,45EUR this corresponds to a plus of +0,31 % since publication.

Deutsche Rohstoff

+6,43 %

+7,19 %

+29,19 %

+36,28 %

+57,12 %

+260,48 %

+135,86 %

+97,78 %

+431,95 %

ISIN:DE000A0XYG76WKN:A0XYG7

• Intraday
• 5 Tage
• 1 Monat
• 3M
• 1 Jahr
• 3J
• 5J
• 10J
• Max