DEA to buy Sierra Oil & Gas

Germany’s DEA announced on Tuesday that it will acquire Mexican independent Sierra Oil & Gas. Sierra holds interests in six blocks offshore Mexico, including the Zama oil find.

DEA, the former upstream subsidiary of RWE, operates the onshore Ogarrio oil field in partnership with Pemex and holds interests in exploration blocks in the Tampico-Misantla and Sureste basins.  

DEA, which is controlled by Russian businessman Mikhail Fridman via the investment vehicle L1 Energy, is set to merge with Germany’s Wintershall in the first half of...