Repsol Confirms Production Rates at Q-8, Q-301 Wells in Alaska

Repsol confirmed Tuesday crude production rates at two wells in Alaska’s North Slope region, following the completion of tests.

The Qugruk 8 well flowed at rates of up to 2,160 barrels of oil per day and Qugruk 301 yielded rates as high as 4,600 bopd. Repsol’s latest campaign brings the total number of positive wells drilled in Repsol’s acreage of the North Slope region to 16. The company operates the discovering consortium with a 70 percent stake, with US companies 70 & 48 LLC and GMT Exploration Company holding 22.5 percent and 7.5 percent interests, respectively.

Repsol Executive Vice President of Exploration and Production Luis Cabra commented in a company statement:

"We are very satisfied with the latest results from Alaska. The positive news from this year’s exploration campaign, combined with the recent changes in the state’s tax structure, make Alaska a compelling area to continue to invest and generate the potential for development."

An additional drilling program will be carried out during the next winter and the consortium has already begun the process to obtain permits for a development phase in the Nanushuk and Alpine areas of the North Slope.



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