Wintershall has completed its merger with DEA Deutsche Erdoel AG (DEA) creating Wintershall Dea, the leading independent gas and oil company in Europe. In 2018 the cumulated hydrocarbon production of the two companies summed up to 215 mboe, i.e. around 590,000 boe/d and their proven managed reserves totalled 2.4 Gboe, i.e. a reserve to production ratio of 11 years. Based on existing exploration and production projects, Wintershall Dea is on track to reach a production level of 750,000 to 800,000 boe/d between 2021 and 2023, corresponding to a 6% to 8%/year growth).
Wintershall Dea produces gas and oil (70% gas) in four core regions, namely Europe, Russia, Latin America and the MENA region (Middle East & North Africa). Wintershall Dea and its partners operate a 2,400 km natural gas pipeline network in Germany. The company is also a shareholder of Nord Stream and provides financing to Nord Stream 2.
BASF (Wintershall's shareholder) and LetterOne (DEA's shareholder) expect to offer shares in Wintershall Dea through an Initial Public Offering (IPO) in the second half of 2020, subject to market conditions.