Riedstadt - Oil has been found again in Riedstadt in southern Hesse (Gross-Gerau district). The company Rhein Petroleum announced on Monday (August 21) that there is currently a lot of evidence pointing to “an interesting deposit” that is above expectations in terms of both quantity and quality: “Initial measurements and tests show that the geological structure “The corresponding layers at a depth of around 1,700 meters are thicker than assumed before the drilling that explored the deposit. Further tests are now to follow.
Initial laboratory tests have shown that the crude oil is of very high quality: “It is light, low in sulfur and rich in valuable ingredients,” said the Heidelberg-based company. The oil is therefore particularly suitable for industrial processing and the production of products such as pharmaceuticals or high-quality plastics.
Potentially transformative and value accretive transaction in line with strategy to focus on proven resources and cash generative assets • Platform has the potential to deliver up to ~4,000 bopd** in the coming years from 2P net reserves of 3.85 mmbbl* and 2C/2U net risked resources of 13.48 mmbbl* in drilled prospects with proven oil