Repsol and its partner Armstrong Energy have made conventional hydrocarbon discoveries in Alaska.
The Horseshoe-1 and 1A wells were drilled in the 2016-2017 winter campaign and have confirmed oil in the Nanushuk play at the North Slope of Alaska.
The Nanushuk play is estimated to host nearly 1.2 billion barrels of recoverable light oil.
As of 2008, Repsol has been consistently exploring various locations in Alaska and has been drilling several consecutive discoveries on the North Slope along with partner Armstrong since 2011.
The Horseshoe-1 discovery well encountered more than 150ft of net oil pay in several reservoir zones in the Nanushuk section, which was drilled to a total depth of 6,000ft.
The Horseshoe-1A sidetrack was drilled to a total depth of 8,215ft. It encountered more than 100ft of net oil pay in the Nanushuk interval.
Before Horseshoe, Repsol drilled 13 exploration and appraisal wells on the North Slope as operator.
This drilling campaign discovered multiple reservoirs, including the Pikka Unit.
The Horseshoe discovery increases the Nanushuk play by 20 miles towards the south of the existing discoveries.
Most of these resources are expected to become reclassified as proven and probable reserves after the Nanushuk Development Project sanction.
The Pikka project is expected to commence production from 2021, with an initial rate of 120,000 barrels of oil per day.
Repsol owns 25% working interest in the Horseshoe discovery and holds 49% working interest in the Pikka Unit.
The remaining stake is with Armstrong, which is also the operator of the projects.
Image: Repsol headquarters. Photo: courtesy of Repsol / Flickr.