Deutsche Rohstoff AG: US Oil & Gas developments on track for 2026

• 2026 drilling program in Wyoming starting with four wells in late February


• Bright Rock expands its position in Ohio to approximately 4,000 acres


• USD 40 million non-operated partnership in Wyoming on track for first production in summer
• Mowry and Niobrara wells in production since late 2025


• Niobrara wells showing very strong production performance


• Mowry wells stable following a slower initial production ramp-up


• Production from the Chinook pad continues to outperform

Operational performance at Deutsche Rohstoff AG remained very strong in the fourth quarter. In 2025, Deutsche Rohstoff produced approximately 13,600 BOE per day, equivalent to around 8,800 barrels of oil per day. The decline in production of around 8% was almost exclusively due to lower gas production, while oil production reached the previous year's level. This development was driven by the higher oil weighting of total production, which increased to approximately 65% (previous year: 60%), as well as the continued strong performance of the wells on the Chinook pad, which came online in mid-2025. The average WTI oil price during the period was USD 65.4 per barrel.

Jan-Philipp Weitz, CEO, commented: "In 2026, we will continue to invest in a disciplined manner to further expand our oil & gas business. In addition to the advanced drilling program at Salt Creek, 1876 Resources will now commence its drilling program with an initial four wells and has the option to drill additional wells immediately thereafter, while we closely monitor developments in the oil markets. The high degree of flexibility of the U.S. market and our U.S. subsidiaries enables us to make additional investment decisions at short notice."


2026 Capital Expenditures

In late February, 1876 Resources plans to stand up a drilling rig on the eastern part of its acreage in the Powder River Basin and initially drill four Niobrara wells. Capital expenditures are expected to reflect the significantly reduced well costs of approximately USD 9 million per well achieved in 2025, enabling very attractive returns even at lower oil prices.

At Salt Creek's non-operated joint development in the Powder River Basin, the planned nine wells were successfully drilled by the end of January. Completion is expected in spring and production is expected to start in summer 2026. Salt Creek will invest around USD 40 million in this program, while also evaluating additional non-operated transactions.

Bright Rock Energy has secured a total of around 4,000 acres of leasehold and mineral rights in recent weeks, following the closing of a larger transaction of approximately USD 8 million as well as several smaller acquisitions. This represents a key milestone for the future development of the Utica/Point Pleasant formation in Ohio. The company expects to further expand its position over the course of 2026.

At the beginning of 2026 Deutsche Rohstoff AG is focusing on strengthening its production base and expanding its acreage position in the Powder River Basin, while pursuing targeted diversification through the acquisition of oil and gas rights in Ohio. At the same time, the Company maintains a high degree of flexibility and short-term responsiveness to react appropriately to changes in market and price conditions.


2025 Wells and Production

The wells drilled in 2025 are developing very positively overall, confirming the high quality of the acreage and the operational execution. The first four wells from the Chinook pad, which commenced production at the end of the second quarter, have each produced an average of approximately 150,000 barrels of oil over roughly eight months, significantly exceeding initial expectations.

On the western acreage, higher development density was applied on 1876's western acreage towards the end of 2025 and six wells were recently brought online. Of the six wells drilled, three target the Niobrara formation and three the deeper Mowry formation. The Mowry wells experienced a slower-than-expected initial production ramp-up following first production in mid-November, resulting in lower initial rates. However, production subsequently increased and stabilized at a solid level. The wells are now developing very satisfactorily, confirming the fundamental attractiveness of the Mowry formation. The Niobrara wells are performing very strongly and are producing slightly below the results of the highly prolific Buster well drilled in 2021, which remains one of the highest-volume wells in the group. These initial results confirm a successful test of increased density offsetting existing development locations.

Given the current oil-price environment and the Group's solid financial position, the Company has recently entered into slightly fewer oil hedges. Nevertheless, approximately 30% of existing production for 2026 and around 20% for 2027 are already hedged. The total hedged volume amounts to approximately 800,000 barrels, of which about 50% is hedged via swaps at USD 66/bbl and approximately 35% via put options at USD 50/bbl. These instruments provide effective downside protection while allowing full participation in higher oil prices. Additional hedging transactions continue to be evaluated on an ongoing basis.