Even as the US domestic oil industry continues to get hammered by the administration, the
Spaniards acquire oil-rich acreage off our north slope in Alaska.
The estimated minimum exposure of this investment for Repsol, including amounts to be paid to its partners and the cost of exploration to be carried out over several years, amounts to $768 million. The start of exploratory work is scheduled for next winter.
The North Slope of Alaska is an especially promising area for Repsol as it has already shown to be oil-rich and carries low exploratory risk. This acreage also helps increase the company’s presence in OECD countries. In the United States, Repsol has already successfully explored for and developed hydrocarbons production in the Gulf of Mexico.
I can't make this stuff up.
Why the gloom and doom spIn on this?
ReplyDeleteRespol bought 70% wi in leases that are held by 70 and GMT which are both US companies.
I have to assume respol gets no special treatment from Alaska or US since no indication that leases were modified.
.
So the problem with this is ??????
And it would seem logical that the deal was shopped to all irrespective of national origin. US companies won't step in does not indicate to me any big issue so long as all are treated equal. Sorry, I dont get it.
http://wilderness.org/files/North-Slope-Leases-Map_1.pdf
Sorry if I suggested any "gloom and doom."
ReplyDeleteAbsolutely no "gloom and doom."
Simply an observation. Everyone assumes "spin" these days. I just noted "optimistically" that even if Americans don't want to support drilling in our country, other countries do.
Sorry if the post was confusing.
But I see your point.