Repsol Makes Strategic Move in the Marcellus

Repsol Makes Strategic Move in the Marcellus

Spain’s global energy behemoth Repsol has invested more of its euros in U.S. shale with a bankruptcy purchase in the Marcellus. Reese Energy Consulting today is following the latest news from Repsol, whose U.S.-based oil and gas operations include Pa., Alaska, the Eagle Ford, and offshore the Gulf of Mexico. Repsol now will add to its existing position in Pa., with the purchase of Rockdale Marcellus, which filed for bankruptcy last September. The $222 million deal includes 42,897 net acres with 100% working interest, 66 wells, 110 MMCFD in gas production, and more than 100 future drilling locations. Rockdale acquired the assets from Shell in 2017. Repsol is fattening up its natural gas presence at a time of soaring energy prices and demand in Europe. The company last August snapped up the remaining 25% for now 100% control of Saint John LNG (neé Canaport LNG) in Canada’s New Brunswick. And let’s not forget, Repsol in 2018 signed a 20-year, $4.5 billion agreement with Venture Global to buy 20 million tons of LNG from Venture’s Calcasieu Pass export terminal expected to begin commercial service by year end. Wonder where all that gas will come from. Hmm.

What do you think? Learn more about Reese Energy Consulting and our natural gas and LNG expertise and services at www.ReeseEnergyConsulting.com.

Repsol

Repsol S.A. is a Spanish energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2020 Forbes Global 2000, Repsol was ranked as the 645th-largest public company in the world. It has more than 24,000 employees worldwide.

www.repsol.com

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U.S. Midstream on a Project High

U.S. Midstream on a Project High

The U.S. takes first prize when it comes to the number of North American midstream projects expected to start operations between 2021 and 2025—this according to GlobalData. With 169 new builds and expansions in the works or soon to be, the nation captures the lion’s share at 69% of added oil and gas infrastructure. Reese Energy Consulting today is following the latest news from GlobalData, which studies all this for a living and has now released its North American midstream outlook report that segments projects by pipelines, storage, and gas processing. Not surprisingly, oil and LNG exports as well as our own hefty consumption lead the charge here as demand continues to rise post-pandemic. Of the 169 projects tallied, 73 or 43% of the total fall in the trunk/transmission pipelines category, grabbing the title “Highest Number in the Whole Dang Region”. Liquids storage follows with 56 projects and gas processing with 53. Our friends in Canada and Mexico couldn’t be reached for comment.

What do you think? Learn more about Reese Energy Consulting and our range of oil, gas, and LNG services at www.ReeseEnergyConsulting.com.

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