Mannheim/Denver. Elster Oil & Gas (EOG), in which Deutsche Rohstoff holds a 93% stake, has announced that the majority of the new horizontal wells in the Magpie area have started to produce oil and gas on February, 10th. The remaining wells are scheduled to commence production on March, 6th. The operator informed EOG accordingly. There are a total of 28 wells with different horizontal lengths. Elster holds around 36% of the ownership of these wells, which corresponds to about 17 net wells with one mile in length. EOG is expected to report the results of the first 30 production days in April.
Mannheim, 26 February 2018
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