Repsol Plans Four Appraisal Wells In US, Brazil Next Year

MADRID (Dow Jones)

Spanish oil firm Repsol YPF SA (REP) Thursday said it plans to drill four appraisal wells in the U.S. and Brazil in 2010.

The company plans to drill an appraisal well at the Buckskin prospect in the U.S. Gulf of Mexico, and appraisal wells at the Carioca North, Panoramix and Piracuca finds in the promising Santos Basin off Brazil's coast, Repsol said in the slides of a Webcast on third quarter results.

In February, Repsol said it made a large light oil discovery in ultra-deep waters of the Gulf of Mexico, which it called Buckskin.

Repsol is exploration operator at Buckskin with a 12.5% stake, while Chevron Corp. (CVX) holds 55%, Maersk Oil America 20%, and Samson Offshore 12.5%.

Repsol also said it is still evaluating the recent Venus find off the coast of Sierra Leone in order to define a drilling schedule.

At the massive Perla gas discovery off Venezuela, Repsol plans an exploratory well followed by appraisal in 2010.

Copyright (c) 2009 Dow Jones & Company, Inc.

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