The latest news on the new-field wildcat Steig 1 drilled by Rhein Petroleum GmbH in the Graben Neudorf tract in western Germany states that the well is a significant oil discovery for the company. As stated on 20 January 2020 by Tulip Oil Holding B.V., the majority owner of Rhein Petroleum, the discovered pool holds in excess of 115 MMBbl oil in place. The company intends to appraise the discovery and produce the find with horizontal wells. Rhein Petroleum is the sole operator of the well.  Steig 1, drilled as directional well, was started on 26 May 2019. The well is located approximately 1 km north of the city of Weingarten (10 km northeast of Karlsruhe), within the northern sector of the Upper Rhine Valley (Oberrheingraben).  Steig 1 was targeting the sandstone series of the late Eocene-early Oligocene Pechelbronn Beds, expected to be encountered at a depth of approximately 900 m. The well had a planned final depth of 1,033 m.  The information from mid-2018 suggested that Rhein Petroleum started constructing a road leading to the future drillsite and the pad was (likely) completed in August. The operator was expecting to commence the drilling in late September/early October 2018. The Steig 1 well is understood to be a field reactivation well (the wells drilled in the 1950s recognized an oil pool that was never produced). News from early 2019 stated new-field wildcat Steig 1 was expected to spud during spring of 2019 (May/June?). The company had secured all the necessary drilling permit and is believed to have already constructed the drilling pad. On 20 May 2019, Rhein Petroleum disclosed it was erecting a drilling unit - the onset of the drilling was set for 27 May 2019. The well was expected to take four to six weeks to drill. By the end of May, the well reached a depth of 517 m. The well reached the final depth of 1,020 m on 6 June â 503 m had been drilled during the month. On 8 July 2019, Tulip Oil Holding B.V., 90%-owner of Rhein Petroleum GmbH, disclosed that Steig 1 encountered oil column of 150 meters (did not reach a water contact in the oil-bearing sands). The well was tested and has been completed for production after producing 4,000 b of oil, which demonstrated economic viability of the discovery. Tulip advised that the well is believed to be a significant oil discovery and the tests, continued until mid-August 2019, were assessing the size and value of the discovered pool. Planning for the development of the discovery had commenced. encountered an oil. Rhein Petroleum, the sole operator of the well, has commenced field development planning and is preparing an application for a mining plot.  Background Information  Rhein Petroleum was awarded the 326 sq km Graben-Neudorf permit 27 July 2011 (effective 1 August 2011). The tract had a three-year validity term, until 31 July 2014, and was extended thereafter until 31 May 2018.  The well Steig 1 is located near the vintage Weingarten oil field, producing oil since mid-1930 until 1964.
Steig 1 (Rhein Petroleum 100%) in Graben Neudorf block, NE of Karlsruhe, reportedly significant oil find, compl. oil after testing, 4000 bo produced from a 150m column, target Pechelbronn beds at 900m. Appraisal is planned prior to devt, mining plot required. The discovered pool holds in excess of 115 MMBbl oil in place.