EQS-Adhoc: Deutsche Rohstoff AG: Oil and Gas Reserves increase by 46% – NPV of USD 542 million at USD 60 WTI oil price

02.02.26 18:59 Uhr

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EQS-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Other
Deutsche Rohstoff AG: Oil and Gas Reserves increase by 46% – NPV of USD 542 million at USD 60 WTI oil price

02-Feb-2026 / 18:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.

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Oil and Gas Reserves increase by 46% – NPV of USD 542 million at USD 60 WTI oil price
 
  • 2026 Reserves Report published
  • Successful development of acreage in Wyoming drives a significant increase in reserves
  • Proved and probable reserves increase from 54 million to 79 million barrels of oil equivalent (BOE)
  • USD 553 million NPV of proved and probable reserves (previous year: USD 493 million) based on the NYMEX forward curve
  • Reserves NPV increases by 38% from USD 394 million to USD 542 million based on USD 60/bbl WTI and USD 3/MMBtu Henry Hub gas
  • Producing wells generate USD 675 million in net cash flow (previous year: USD 562 million) with an NPV of USD 393 million (previous year: USD 381 million)
  • Approximately USD 1.5 billion of future net cash flow from proved and probable reserves (previous year: USD 1.0 billion) – increase of USD 460 million
  • Successful reserve replacement: PDP reserves increase from 25 million to 29 million BOE despite production of approximately 5 million BOE in 2025
  • Proved undeveloped and probable reserves increase to 50 million BOE (previous year: 30 million BOE)
  • Positive reserve development driven by strong performance of newer wells, further de-risking of acreage, and higher well density per drilling pad


End of Inside Information

Explanation, why the information has significant effect on the prices of financial instruments:

Explanatory Section

Deutsche Rohstoff AG today publishes the results of its annual oil and gas reserves report. For its U.S. subsidiaries, independent third-party engineers annually evaluate oil and gas reserves, future production volumes, future cash flows and their respective net present values.

Reserve estimates are based on the WTI crude oil and Henry Hub Natural Gas forward curves as of 31 December 2025. The average WTI price over the next five years is USD 58.71 (previous year: USD 65.70).

Following an already significant increase of 25% in the previous year, reserves once again rose substantially in 2026. Volumes increased by 46% to 79 million BOE of proved and probable reserves, representing the largest organic reserve increase in the Company’s history.

Reserves are classified into proved, probable, and possible categories. In addition to 112 existing net wells (227 gross wells), the reserves report includes more than 100 additional gross proved and probable wells. Beyond the reserves report, significant upside potential remains, as no possible reserves and no proved or probable reserves on a significant portion of the Group’s undeveloped acreage are currently part of the published reserves.

A detailed overview will be available shortly on the Company’s website under Reserves.
Reserves at Constant WTI Oil Prices of USD 60 and USD 80

Assuming long-term constant oil and gas prices for reserve calculations, instead of applying the forward curves as of 31 December 2024 and 31 December 2025, allows for direct comparability.

At USD 60/bbl WTI and a Henry Hub gas price of USD 3.0/MMBtu, the NPV of proved reserves increases by 32% year-over-year to USD 485 million (previous year: USD 366 million), while the total NPV of proved and probable reserves increases by 38% to USD 542 million (previous year: USD 394 million).

At USD 80/bbl WTI and a Henry Hub gas price of USD 4.0/MMBtu over the life of production, the NPV of proved reserves increases by 30% to USD 884 million (previous year: USD 680 million), while the total NPV of reserves rises by 40% to USD 1.1 billion (previous year: USD 784 million).

The high NPV of reserves at a conservative oil price of only USD 60 underscores the strong economic resilience of existing production and confirms the robustness of the Group’s subsidiaries even at lower commodity prices. At the same time, an NPV of USD 1.1 billion at an oil price of USD 80/bbl WTI highlights the substantial value-creation potential of Deutsche Rohstoff AG’s U.S. oil and gas business.

As the forward curve as of 31 December 2025 averages USD 58.71/bbl WTI and USD 3.69/MMBtu gas over the next five years, reserve values based on the forward curve are very close to those calculated using a flat USD 60 price assumption.
Proved Developed Reserves (PDP)

Based on the NYMEX forward curve pricing, proved developed reserves increase by 18% to 29 million BOE (60% oil), compared to 25 million BOE (54% oil) in the previous year.

These reserves are expected to generate net cash flow of USD 675 million without requiring any additional material investment. The discounted value of producing wells increased to USD 393 million as of 31 December 2025, compared to USD 381 million in the previous year.

Produced reserves were fully replaced and further expanded, highlighting the success of the Company’s development strategy driven by new wells brought online in Wyoming and strong production performance across numerous existing pads.

Net cash flow is calculated based on revenues from oil and gas sales less production taxes, operating expenses (OPEX), and capital expenditures (CAPEX). For purposes of determining net present value, net cash flow is discounted at 10% (PV-10). Partner interests and royalties have already been deducted.
Proved Reserves & Probable Reserves

The NPV of proved reserves increases to USD 489 million from USD 452 million in the previous year. The combined NPV of proved and probable reserves rises to USD 553 million (previous year: USD 493 million). Expected future net cash flow from proved reserves amounts to USD 1.1 billion (previous year: USD 859 million), exceeding USD 1 billion for the first time, while combined proved and probable reserves can generate approximately USD 1.5 billion (previous year: USD 1.0 billion) of future cash flows.

Proved reserves increase by 23% to 55 million BOE (68% oil), up from 45 million BOE (62% oil) in the previous year.

Proved undeveloped and probable reserves currently consist almost exclusively of wells targeting the Niobrara Formation, with only twelve wells in the Teapot and Mowry formations.

Reserve evaluations for the Company’s key subsidiaries (representing more than 99% of total reserves) are conducted by independent engineering firms in accordance with standards accepted by the U.S. Securities and Exchange Commission (SEC). Under SEC guidelines, only proved and probable wells within a defined proximity to existing production are included in reserve reporting.

Hedging transactions and their resulting effects are not included as part of reserve estimates.

Reserves currently do not include any values related to the recently acquired acreage in Ohio from Bright Rock Energy.
Mannheim, 2 February 2026
 

02-Feb-2026 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
View original content: EQS News


Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
E-mail: info@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76
WKN: A0XYG7
Indices: Scale
Listed: Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate BSX
EQS News ID: 2269994

 
End of Announcement EQS News Service

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2269994  02-Feb-2026 CET/CEST

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