July 28, 2017 3:39 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Wintershall AG

Company Overview

Wintershall AG explores and produces crude oil and natural gas. The company trades natural gas in Europe. The company markets crude oil and natural gas storage capacity, natural gas transport capacity, and fiber optic capacity. It has strategic alliances with Pan American Energy LLC, Total Austral SA, and YPF Sociedad Anonima. The company was formerly known as Bohrgesellschaft Wintershall and changed its name to Wintershall AG in January 1929. The company was founded in 1894 and is based in Kassel, Germany. The company operates in Europe, North Africa, South America, and Russia. Wintershall AG operates as a subsidiary of Wintershall Holding GmbH.

Friedrich-Ebert-Strasse 160

Kassel,  34119

Germany

Founded in 1894

Phone:

49 561 301 0

Fax:

49 561 301 1702

Key Executives for Wintershall AG

Chief of Finance and Member of the Board of Executive Directors
Age: 60
Chief Executive Officer of Plant Science Business and President of Plant Science Business
Board Member and Chief Executive Officer of Wingas
Age: 51
Head of Exploration and Production
Head of The Operations Department for Germany
Compensation as of Fiscal Year 2017.

Wintershall AG Key Developments

YPF, Pan American Energy and Total Austral and Wintershall to Invest $1.15 Billion at Vaca Muerta

YPF, Pan American Energy (PAE), Total Austral and Wintershall signed an agreement to jointly invest $1.15 billion through end-2021 in unconventional E&P at the Aguada Pichana and Aguada de Castro (ACAS) areas in Neuquén province. The consortium will seek to ramp up natural gas output from the Vaca Muerta shale deposit through the deal. Aguada Pichana is divided into two sub-blocks: the Total-operated Aguada Pichana Este (APE) and PAE-operated Aguada Pichana Oeste (APO). BP-controlled PAE is also the operator of Aguada de Castro. Of the total, $675 million is allocated for APE, with the remaining $475 million earmarked for APO and ACAS. The consortium plans to drill 48 horizontal wells at APE, and 24 horizontal wells at APO and ACAS. Investment at the latter two areas will also include surface infrastructure to transport gas output to a processing facility at APE.

Wintershall Reports Earnings Results for the Year 2015; Provides Earnings Guidance for the Year 2016

Wintershall reported earnings results for the year 2015. Income from operations declined as a result of the loss in sales to $1.5 billion, against $2 billion during full-year 2014. For the year 2016, the company is expecting a steep decline in sales as crude oil prices linger at around $40 per barrel. The company also expects a significant fall in income from operations before special items compared to 2015.

Wintershall and Gazprom Sign Memorandum of Understanding to Expand Nord Stream Pipeline

Wintershall and Gazprom have signed a memorandum of understanding to expand the Nord Stream pipeline. BASF said it intends to participate in expanding the capacities of the Nord Stream pipelines 3 and 4, which deliver Russian natural gas to European customers via the Baltic Sea. The company said this expansion will consist of two additional pipelines that could transport up to 55 billion additional cubic meters of Russian natural gas directly to Germany.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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