Neptune Builds German Upstream Portfolio

Neptune Energy has agreed to acquire interests in several oil and gas fields in the Emsland and the Grafschaft Bentheim region of Germany from Wintershall Dea, it said February 19.

The agreement, subject to partners' approvals, will increase Neptune’s existing interests in the Adorf, Apeldorn and Ringe gas fields and in the Adorf-Scheerhorn, Georgsdorf and Ringe oil fields. When completed later this year, it will add some 800 barrels of oil equivalent/day to Neptune’s production portfolio in Germany – an increase of around 10%.

Neptune operates all the fields that are part of the transaction, with the exception of the Georgsdorf oil field.

In 2019, Neptune acquired interests in various other fields of the Grafschaft Bentheim and Emsland region from Wintershall Dea, which added some 600 boepd to its German production portfolio.

Neptune Energy’s managing director for Germany, Andreas Scheck, said: “Increasing our interest in these fields is of strategic importance for us, enhancing our production and underlining our commitment to a key producing area in Germany."

The Adorf Carboniferous gas field is under development after successful discovery in 2020. The next development well is planned to be drilled in the first half of 2021.