Beacon Energy plc acquired Rhein Petroleum GmbH from Deutsche Rohstoff AG and Tulip Oil Holding B.V. for €0.3 million on December 16, 2022. Beacon Energy has acquired all of the shares in Rhein Petroleum GmbH, 10% from Deutsche Rohstoff AG and 90% from Tuilp Oil Holding. As part of the sale, Deutsche Rohstoff will receive a share in Beacon of around 3.3% as well as a revenue share of around 1% of the future net returns from Rhein Petroleum's production. The value of the 3.3% stake in Beacon will initially be around €0.3 million after the transaction and a capital measure. Considerable further potential arises from the earnout agreement. Deutsche Rohstoff AG had undertaken to sell its own remaining shares in the event of Tulip Oil selling the majority of the shares. This agreement was now applied. Rory Murphy, James Bellman and Robert Collins of Strand Hanson Limited acted as financial advisor to Beacon Energy plc. Joe Levin, F. Maximilian Boemke and Richard Stephens Watson Farley & Williams acted as legal advisor to Beacon Energy.

Beacon Energy plc completed the acquisition of Rhein Petroleum GmbH from Deutsche Rohstoff AG and Tulip Oil Holding B.V. on December 16, 2022. As of March 21, 2023 Beacon Energy plc issued 3,488.549633 million.