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Neptune Energy Group Holdings Ltd.

01/14/2022 | Press release | Distributed by Public on 01/14/2022 02:00

Neptune Energy starts gas production at Adorf Z16 well, Germany

14/01/2022

Neptune Energy today announced first gas production from its operated Adorf Z16 development well in the municipality of Hoogstede, North western Germany.

Initial production tests indicate flow rates of up to 2,800 barrels of oil equivalent per day (boepd). The Adorf Z16 well is expected to increase Neptune's production from the licence to around 4,000 boepd.

The Adorf Carboniferous gas field was discovered in 2020 and the first well - Adorf Z15 - was brought into production in October the same year.

Neptune Energy's Managing Director in Germany, Andreas Scheck, said: "The Adorf Carboniferous field is one of the most exciting discoveries in Germany in recent years. It is one of Neptune's most promising developments in Germany and demonstrates our desire to grow our business here."

Drilling of the Z16 well reached final depth of 5,378 metres in the Carboniferous formation in September 2021. The well has been successfully connected to a modern processing plant for treatment of the natural gas, which is located at the Adorf site.

Neptune is already planning further development of the Adorf Carboniferous gas field. The construction of a new well pad in the neighbouring community, Georgsdorf, is under way and a third well is scheduled to be drilled there in the second quarter of 2022.

Neptune Energy owns 100% of the Adorf Carboniferous gas field.

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For media inquiries:
Stefan Brieske, Head of Communications and Public Affairs, Germany
[email protected]
+49 151 14 84 31 66

About Neptune Energy Group
Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 142,000 net barrels of oil equivalent per day in 2020 and 2P reserves at 31st December 2020 of 601 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.

More information: www.neptuneenergy.com