Repsol calls Alaska wells ‘positive’

Repsol is expressing tight-lipped optimism about its Alaska exploration program.

“In Alaska, drilling goals were accomplished and production tests were positive,” the company reported in first quarter earnings information released May 10.

The Spanish major planned a three-well program this winter, in the region between the Kuparuk River unit and Colville River unit - Qugruk No. 8, No. 9 and No. 301.

The three-well program was the fourth season of North Slope exploration for the company. Earlier this year, in March, officials said the company would most likely make a decision early next year about whether it would sanction development. In January 2014, Repsol Alaska Project Manager Bill Hardham said, “I feel confident it’s coming. It’s not a matter of if, but when.” That May, Chief Financial Officer Miguel Martinez said, “We are working toward defining the most economical way to develop the area.”

- Eric Lidji