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Who is RDG and what is its goal?
RDG was originally founded as a subsidiary of the Austrian company RAG Austria. It was intended to reflect the adoption of a new business model with a stronger focus on Germany. In the meantime, RDG has become an independent company in its own right. RDG represents the next generation of energy companies. In its core business, RDG focuses on traditional oil and natural gas extraction activities in addition to the generation and storage of renewable energies. The focus is on sustainability and social responsibility in E&P activities – for the domestic resources of tomorrow, renewable energies in the local area and preservation of the environment.
What role does Shorelight play at RDG?
Petroleum Equity (PE) has been involved as a partner of RDG right from the very beginning. After RDG was founded as a spin-off from RAG, ownership of the company was transferred to Shorelight. RDG is an independent company under the aegis of the specialist investment firm Shorelight, which brings extensive competencies to RDG, in particular from CEO Bernhard Schmidt. Shorelight identified major opportunities in the RDG business model, a combination of conventional E&P activities and renewable energy solutions and is investing in this potential.
What does the name RDG stand for, and what does it represent?
The company name RDG is above all an expression of a different business model. While, in the past, RAG was primarily associated with exploration of oil and natural gas, the name RDG is an attempt to also convey the business areas of geothermal energy and sustainable usage. Moreover, the “D” symbolises a long-standing involvement in and commitment to Germany. The name RDG remained unchanged following the company’s takeover by Shorelight.
What is the management structure at RDG, and who are the local contacts representing the company?
RDG is represented by two executives: Felix Lerch (CEO, PR) and Michael Lynch (CFO).
Regionally responsible project managers represent local projects on behalf of RDG in each case.
The German market is already so saturated, right? What can RDG offer as a relatively small player in the market?
The time is right to open up a new chapter in the history of exploration and production activities in Germany. We stand for future-proof E&P in harmony with society.
Our understanding of oil today will in the near future prove to be nothing more than a misconception. RDG applies this knowledge of the future importance of oil to form the basis of its business model already today. We are therefore placing our core competence into a new societal context.
Why do companies continue to extract oil? In light of the discussion surrounding climate change and the energy revolution, surely this is no longer in keeping with the times?
The importance of oil is going to change completely. Today, we only know oil as a source of energy – but this will soon change. Oil is the resource of the future for top quality materials such as those used in wind turbines, smartphones and laptops, for example. RDG searches for and extracts oil, a high-tech resource, using this locally to develop future-oriented products. We regard oil as a resource for and driver of the energy revolution.
How does RDG view its role with regard to communications for its projects?
An important part of RDG’s history is the company’s distinct concept of dialogue. For each project, RDG’s communications strategy is rooted in dialogue and consensus – regionally and nationally, including the media, politics and citizens alike. Our communications concept consists of providing information at an early stage and entering into dialogue with local people (politicians, citizens, residents and the press).
What projects are currently in progress or in the pipeline?
RDG is active in many areas right across Germany. Lower Saxony, Rhineland-Palatinate and Bavaria represent the company’s focus regions. In Lower Saxony, RDG has been granted exploration rights in the two concession areas of Heemsen and Borsum (RDG Niedersachsen GmbH). In Bavaria, RDG is concentrating its activities on the concession area of Salzach-Inn. Moreover, the company has agreed cooperations with partner companies in the Tannheim (Baden-Württemberg) concession areas. Within the first half-year of 2020, RDG will take over two actively producing fields from Wintershall Dea in Landau (Rhineland-Palatinate) and Aitingen (Bavaria), as well as concessions in Hebertshausen, Suderbruch, Lauben and Bedernau.
What does RDG mean by the “REEM” principle?
RDG works in accordance with the REEM principle. This focuses on direct regional usage, efficient extraction, the usage of renewable energies in addition to minimal interference in the natural landscape.
Direct regional usage:
The oil we extract is directly used in the local area. RDG supplies regional companies working in the oil processing sector with this high-tech resource.
Long-standing expertise and the use of the most modern technology allows RDG to implement efficient extraction processes with optimised energy output. We produce as much of the energy as possible on site.
Usage of renewable energies:
RDG is on the lookout for possibilities to use recovered geothermal energy in the local area. Potential applications for this geothermal energy include, for example, heating greenhouses or other energy recovery projects in the agricultural sector through the use of renewable energies.
Minimal interference in the natural landscape:
Modern, technological processes allow drilling and extraction activities to be conducted across a minimal site area without adversely impacting residents in the local area or the natural environment. Full site renaturation is carried out after extraction activities have been completed. Any interference in the landscape is kept to an absolute minimum.
Subject to certain conditions, fracking is permitted in some federal states in Germany. What is RDG’s attitude towards this?
RDG’s business plan does not involve exploring and developing unconventional deposits. Hydraulic fracturing – more commonly known as “fracking” – has therefore been categorically ruled out by RDG.