collected by :Molly Tony
Oil exploration that started in 2008 has paid off for Spanish oil company Repsol and its U.S. partner, Armstrong Energy.
Energy giant Repsol has found the largest onshore U.S. oil find in 30 years.
Roughly 1.2 billion barrels of light crude are available in Alaska’s North Slope and ready to come up in 2021.
“Additionally Alaska has significant infrastructure which allows new resources to be developed more efficiently.
Bill Walker touted the discovery in a statement released Friday.
Repsol makes the largest U.S. onshore oil discovery in 30 years
The contingent resources currently identified in the Nanushuk play in Alaska amount to approximately 1.2 billion barrels of recoverable light oil.
Press Release 9 March 2017 17:45 CETRepsol and partner Armstrong Energy have made in Alaska the largest U.S. onshore conventional hydrocarbons discovery in 30 years.
The Horseshoe-1 and 1A wells drilled during the 2016-2017 winter campaign confirm the Nanushuk play as a significant emerging play in Alaska’s North Slope.
The Horseshoe-1 and Horseshoe-1A wells drilled in the 2016-2017 winter campaign confirm Nanushuk as a significant emerging play in Alaska’s North Slope.
Repsol holds a 25% working interest in the Horseshoe discovery and a 49% working interest in the Pikka Unit.
Repsol (OTCQX:REPYF, OTCQX:REPYY) says it has discovered 1.2B barrels of oil at Alaska’s North Slope, in what it says is the biggest U.S. conventional onshore oil discovery in 30 years.
Repsol holds a 25% stake in the Horseshoe discovery and 49% in Pikka, with the remaining interests held by operator and partner Armstrong Energy.
Repsol says positive drilling results at its Horseshoe-1 and 1A wells added to earlier finds in the adjacent Pikka field, where it expects to start production in 2021 with the potential to extract up to 120K bbl/day of oil.