PRD Energy Scoops Up License Duo in Germany

PRD Energy has been awarded the Ostrohe exploration license, which covers approximately 156,000 acres, as well as the Prasdorf production license, covering approximately 2,000 acres. Both licenses are located in the state of Schleswig-Holstein, within the Northwest German Basin.

The Northwest German Basin has a history of significant petroleum discoveries and a number of these discoveries have been made within close proximity to the Ostrohe license, said PRD.

The Ostrohe license is awarded for an initial period of five years and includes all rights from surface to basement. Pursuant to the terms of the license, PRD is committed to bringing one well onto production within the initial five year term.

The Prasdorf production license previously produced petroleum and was abandoned by its former operator in 1992. It covers approximately 2,000 acres and has been awarded for an initial period of three years and includes all rights from surface to basement. Pursuant to the terms of the license, PRD said it is committed to bringing one well onto production within the initial three-year term.

PRD's subsidiary in the country has also applied for several other exploration and production licenses in Germany on behalf of PRD, and anticipates responses to these applications in the coming months.

The awards of both licenses are subject to review and approval by various municipal and state government authorities in Germany.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Frontera Signs Upstream Cooperation MO... (Feb 9)
 -  PA Resources Divests North Sea Assets (Feb 9)
 -  MEO Australia Commences Prospectivity ... (Feb 9)
 -  Aibel Working on Johan Sverdrup Concep... (Feb 9)
 -  Sound Energy Confirms Clean-Up Operati... (Feb 9)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Maintenance Engineer|Project Management|Reliability Engineer
Location: Pasadena, TX
 
Senior Pipeline Project Manager
Expertise: Project Engineer|Project Management
Location: California, United States
 
Sales Director Offshore & Marine
Expertise: Business Development|Project Management|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $30.32/BBL 10.50%
Light Crude Oil : $27.94/BBL 5.89%
Natural Gas : $2.09/MMBtu 2.33%
Updated in last 24 hours