Exploration and Production
On December 31, 2018 Repsol had mineral rights in the United States to a total net surface area of 3,111 Km2 (1,847 Km2 for exploration, and 1,264 Km2 for production/development). Repsol’s asset portfolio has been expanded with the introduction of the unconventional assets from Marcellus and Eagle Ford, as well as the productive asset in Shenzi, the Buckskin development projects, and several exploration blocks in the Gulf of Mexico and Alaska North Slope.
Net production that year was 9.5 Mbbl of liquids and 179.1 Bcf of natural gas, with a total net equivalent production of 41.4 Mboe (113,539 boe/d). The net proven reserves for liquids and natural gas were estimated at 419.2 Mboe, on December 31, 2018.
- The start of drilling operations part of the development program was announced, as well as the start of production in the deep-water Buckskin project (Repsol has a 22.5% interest - LIOG is the operating company) in the Keathley Canyon within the US Gulf of Mexico area. Buckskin is expected to start production in the second half of 2019.
- Furthermore, Repsol has obtained 69 exploration blocks in the North Slope area in Alaska - Repsol is operator in 34 of them, with a 100% working interest. The remaining blocks are operated by Oil Search, and Repsol holds a 25% interest. In November, our company also secured the rights to a further 12 blocks located to the East (9 blocks) and South (3) of the Pikka Unit.
- In January 2019, during the 2018-19 winter exploration campaign in Alaska, the presence of hydrocarbons in the southern portion of the Pikka Unit was confirmed, where the first appraisal well, Pikka-B, has just been drilled.
of mineral rights
equivalent per day
Product sales through our commercial office in the United States.
Gas Wholesaler and Trading
Trading activities in the United States are centrally managed by the Houston headquarters, and includes products such as crude oil, gasoline, diesel, and airplane fuel.
The regasification and transportation assets the Company has in North America, such as the Canaport regasification plant and the Canada and USA gas pipelines, enable the distribution of LNG in the northeastern region of the USA - especially during the winter, when the supply of natural gas is restricted.