Daldrup & Söhne AG

  • WKN: 783057
  • ISIN: DE0007830572
  • Land: Deutschland

Nachricht vom 05.06.2020 | 08:35

Daldrup & Söhne AG successfully drills production well for geothermal heating plant project in the Netherlands

DGAP-News: Daldrup & Söhne AG / Key word(s): Drilling Result
05.06.2020 / 08:35
The issuer is solely responsible for the content of this announcement.



Daldrup & Söhne AG successfully drills production well for geothermal heating plant project in the Netherlands
Oberhaching / Ascheberg, June 5, 2020 - The drilling technology and geothermal energy group Daldrup & Söhne (ISIN DE0007830572) has successfully drilled the first well of the triplet for Aardwarmte Combinatie Luttelgeest B.V., Luttelgeest (ACL), Netherlands. The vertical drilling depth of the deviated production well was around 1,800 m. The production volume (bulk density) in the initial tests is well above the expected yield of 100 l/sec. At 76 Celsius, the temperature of the deep water is also slightly above the forecast. For greenhouse operators, this increases the profitability of the heating plant and shortens the payback period.

The production well has been technically complex. Initially, drilling was carried out with a diameter of 28 inches, which was tapered to 11 inches with increasing depth. This Dutch geothermal energy project is the first time that a so-called protective pipe string ("inner string") has been installed, which ensures the production activity and longevity of the well (well integrity) in the long term. Daldrup & Söhne AG expects this to become the new standard in Dutch geothermal projects.

GERF B.V., a 100 % subsidiary of Daldrup & Söhne AG, will drill the second of a total of three wells ordered from mid-June onwards. The project is expected to be completed in spring 2021 with the completion of the heating system and heat distribution network.

After the successful drilling and installation of the heating plant for the customer Nature's Heat, ACL is the second customer in the Netherlands for whom the Daldrup Group is constructing a geothermal heating plant on a turnkey basis on the basis of an EPC (Engineering Procurement Construction) contract with integrated coverage of the exploration risks via Daldrup's own ART (Alternative Risk Transfer) structure. In addition to the standard contract concepts, Daldrup & Söhne AG is striving to further establish the EPC concept with the ART structure in the Dutch market.

About Daldrup & Söhne AG
Daldrup & Söhne AG (ISIN: DE0007830572, WKN: 783057) with a corporate history spanning more than 70 years is a specialist provider of drilling and environmental services and ranks as one of the leading companies in Germany. Its activities are divided into the business divisions Geothermics, Raw Materials & Exploration, Water Extraction as well as Environment, Development & Services (EDS). The Geothermics business division provides drilling services for near-surface geothermics (especially geothermal probes of heat pumps), along with drilling services for deep geothermics up to 6000 m, in order to utilise the geothermal energy accessible in this way for electricity and/or heat generation. In the Raw Materials and Exploration business division, the bores made by Daldrup & Söhne AG serve for exploring and developing fossil fuel deposits (especially coal and gas) as well as mineral resources and ores (e.g. copper and gold). The Water Extraction business division comprises well construction for the extraction of drinking, service, curative, mineral, boiler-feed or cooling water as well thermal brine. The Environment, Development & Services (EDS) business division comprises special environmental engineering services such as the hydraulic clean-up of contaminated sites, the drilling of gas extraction wells for recovering waste dump gas, the provision of groundwater quality measuring points or the installation of water purification plants.

The shares of Daldrup & Söhne AG are listed in the Scale (sub-segment in the open market of the Frankfurt Stock Exchange).

This publication represents neither an offer for sale nor a call to submit a tender for the purchase or underwriting of securities. This publication and the information it contains is not intended for direct or indirect dissemination in or within the United States of America ("USA"), Canada, Australia or Japan.

Press & Investor Relations contact
Daldrup & Söhne AG
Falk v. Kriegsheim
Fon +49 (0)2593-9593-29

Bajuwarenring 17a ir@daldrup.eu
82041 Oberhaching www.daldrup.eu

05.06.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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