Mannheim/Denver. Salt Creek Oil & Gas has successfully completed two acquisitions with an investment volume of USD 5.4 million.
The company acquired a total of 300 mineral acres in the core area of the Williston Basin in North Dakota. These royalties currently account for around 220 barrels of production per day. Additional drilling locations are expected to be developed in the coming years, which would entitle Salt Creek to further production. Since the mineral acres represent a royalty interest, Salt Creek will not have to make a financial contribution to new drilling. Attributable existing production in 2019 is expected to account for total cash flow from operations of USD 1.9 Million at current pricing.
Salt Creek had sold most of its acreage in spring 2018. Before the acquisition net production from the remaining acreage came in at around 20 barrels per day in recent months.
Since September, the company has been headed by Chris Kiesel, who has been with the company for three years. Salt Creek currently has no other employees.
Mannheim, 22. February 2019
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.