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| Name | Symbol | Market | Type |
|---|---|---|---|
| Repsol SA (QX) | USOTC:REPYY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.135 | -0.86% | 15.575 | 14.59 | 16.57 | 15.91 | 15.5025 | 15.91 | 43,059 | 21:57:00 |
From May 2019 to May 2024
By Nathan Allen
Repsol SA (REP.MC) said Tuesday that the ultra-deep water Buckskin project in the Gulf of Mexico has begun production earlier than expected and under budget.
The Spanish oil major, which holds a 22.5% working interest in the project, said costs associated with the project are around 60% lower than in the original development plan. This brings down the break-even price for oil produced at Buckskin by almost 30%, Repsol said.
Buckskin, located in the Keathley Canyon area of the Gulf of Mexico, is operated by LLOG Exploration Company, LLC., which holds a 33.8% interest in the project.
Initial output is set to reach 30,000 barrels of oil a day, the company said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 25, 2019 06:22 ET (10:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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