document: On 1 January 2018, Bayerisches Staatsministerium fÃ¼r Wirtschaft, Infrastruktur, Verkehr und Technologie granted the Velden-Teising exploration contract in southern Germany (Bavaria) to domestic operator Genexco GmbH. The contract, valid until 31 December 2020, has been secured to explore the remaining hydrocarbon potential of the Upper Cretaceous-lowermost Tertiary sandstone series.  The Velden-Teising permit is located some 60 km east-northeast of the city of Munich, just north of the Salzach Inn contract of RAG. In a geological sense, the tract is located in the Alpine Foreland.  The tract is covering the Velden and Teising oil, gas and condensate fields.  Background Information  The area of Teising was covered from 1 June 2010 to early 2015 by the company Nasser Berg Energie GmbH, involved in the geothermal energy and gas storage business. In 2015, Nasser Berg Energie divested the tract to Genexco GmbH (effective 31 May 2015). In 2017, Genexco applied for an enlargement of the Teising area, to include also the nearby Velden field.  The operational concept in the tract foresees the reestablishment of the production from previously exploited Lower Tertiary sandstones, as well as exploration of the oil leg tested previously in the Turonian-age clastics. The company is offering a farm-in opportunity in the tract.
summary: Germany, Teising