Spanish company buys interest in North Slope leases
By Tim Bradner
Alaska Journal of Commerce
Repsol, the Spanish oil company, has purchased a major interest in a large block of onshore North Slope state oil and gas leases with plans for a substantial exploration program over the next few years.
“It’s a very positive development” for Alaska, said Jim Winegarner, lands vice president for Brooks Range Petroleum LLC, an Alaska-based independent company exploring acreage near where Repsol has purchased an interest in leases.
Repsol bought a 70 percent interest in a group of onshore leases now held by two Denver-based independents, Armstrong Oil and Gas and GMT Exploration, the company announced in a press release March 7.
Repsol has committed $768 million for exploration over the next several years on approximately 1,300 square miles of leases near large producing fields on the Slope, the company said.
Alaska Governor Parnell’s Plan Has Brought Apache and Repsol to Alaska; World Energy Thinks Many Others Will Soon Follow?
http://www.businesswire.com/news/home/20110511007256/en/Alaska-Governor-Parnell%E2%80%99s-Plan-Brought-Apache-Repsol
...Governor Parnell has worked very hard with the State Legislature to pass significant tax rebates and incentives to increase production in the state and is working with Senator Stevens and others to lower north slope production taxes and make Alaska our nation’s number 1 producer, yet again.