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Deutsche Erdoel AG (DEA AG)

Company Summary

Description

DEA Deutsche Erdoel AG headquartered in Hamburg, Germany, is an internationally operating exploration and production (E&P) company for natural gas and crude oil. The purpose of the business is the safe, environment-friendly and sustainable production of crude oil and natural gas along with its storage. DEA pursues a regionally focussed growth strategy as a means of increasing production and building reserves. Through purchasing licences and concessions DEA undertakes highly promising exploration projects in core regions as an operator or cooperation partner of national and international E&P enterprises. In addition to this, DEA regularly evaluates its possible participation in highly promising projects along the value chain.

Website

https://www.dea-group.com/en/about-dea/company

Related Entities

Recent news

  • 12/5/2018 - Sierra Oil & Gas Merges... (subscriber access)

Company Transactions

Date: 6/30/2019
Type: Merger

BUYERS:
  • Deutsche Erdoel AG (DEA AG)
  • Deutsche Erdoel México
    • SELLERS:
  • Sierra Oil & Gas
    • DETAILS:
    NOTES:
    Sierra Oil & Gas signed an agreement to be integrated into Deutsche Erdoel México, a subsidiary of Deutsche Erdoel AG (DEA AG). The transaction will result in a combined portfolio of ten exploration blocks and one onshore production block with expected capital investments of more than 2 billion US dollars over the next five years. DEA AG will participate in the drilling of 9 offshore exploration wells and to the development of Zama, a discovery expected to contribute significant oil production in Mexico, through the agreement. The transaction contains an expected closing date in the first half of 2019.
    REGIONS:
  • Gulf of Mexico - Mexican Waters