Repsol reveals the largest oil find in 30 years
Repsol and partner Armstrong Energy have made in Alaska the largest U.S. onshore conventional hydrocarbons 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.
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 wells extend by 20 miles (32 kilometers) a play already uncovered in previous campaigns in an area known as Pikka
Repsol holds a 25 percent working interest in the Horseshoe discovery and a 49 percent working interest in the Pikka Unit. Armstrong holds the remaining working interest and is currently the operator. Prior to drilling Horseshoe, Repsol as operator drilled 13 exploration and appraisal wells on the North Slope, which led to multiple reservoir discoveries currently included in the Pikka Unit
Repsol has been actively exploring Alaska since 2008, and since 2011 the company has drilled multiple consecutive discoveries on the North Slope along with partner Armstrong.
The successive campaigns in the area have added significant new potential to what was previously viewed as a mature basin. Additionally, Alaska has significant infrastructure which allows new resources to be developed more efficiently.
Production is aimed to start from 2021, where 120,000 barrels of oil are set to be extracted each day.