Repsol spending $240 million this year

Repsol E&P USA Inc. plans to spend $240 million on its exploration work this winter.

The Spanish super-major intends to drill three exploration wells and conduct two well tests on its leases in the Colville River Delta and conduct a large 3-D seismic survey on state and federal acreage south of Nuiqsut, Repsol Alaska Project Manager Bill Hardham said at the Resource Development Council’s annual meeting in Anchorage on Nov. 18.

The company plans to drill the Qugruk No. 8, Qugruk No. 301 and Qugruk No. 9 wells this winter, Hardham said. Repsol is also permitting two alternative drilling locations.

“We currently waiting for our permits to be approved and for the weather conditions to get to the point where we can still building the ice roads, and we expect to be quite active here, starting in about the middle of December or so, on this project,” Hardham said.

The Horseshoe 3-D Seismic Survey would extend from either side of the Colville River south of Nuiqsut, covering Repsol leases in the area as well as neighboring leases, including the Greater Mooses Tooth unit in the National Petroleum Reserve-Alaska.

Through its three previous winters in Alaska, Repsol has drilled nine wells, conducted two 3-D seismic surveys at a cost of some $650 million, according to Hardham.

- Eric Lidji