DEA acquired Sierra Oil & Gas.

DEA Deutsche Erdoel AG, an international independent exploration and production company headquartered in Germany, acquired Sierra Oil & Gas, a leading Mexican independent oil and gas company. Sierra holds interests in a portfolio of six exploration and appraisal blocks in Mexico, including the world class Zama discovery. Financial terms were not disclosed. The transaction is an important milestone in DEA’s international growth strategy, fulfilling DEA’s objective of building a significant portfolio in the Mexican upstream market. DEA will add Sierra’s acreage to its existing portfolio of operated production and exploration blocks, to become one of the country’s largest acreage holders. Once completed, it will be the largest upstream M&A transaction in the country since the liberalization of the petroleum sector in 2013.