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.
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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.