Repsol’s Canadian interests are focused on liquids and gas assets in the Greater Edson area of Alberta, conventional heavy oil western assets in the Chauvin area of Alberta/Saskatchewan, and liquids-rich gas assets in Alberta’s Duvernay play.
The Company spent approximately $353 million to explore and develop its assets in Canada in 2015, resulting in a total production of 61 mboe/d. In 2016, the Company plans to continue to develop land positions in Greater Edson, Chauvin and Duvernay. With approximately 1.1 million net acres of land in Western Canada, Repsol is a key player in the Canadian oil and gas industry. The Company’s operations include four operated gas plants in the Edson area and an oil treatment facility in Chauvin.
With more than 50 years of development, Chauvin is considered one of the Company’s foundational heavy oil assets. Repsol has a land base of approximately 129,000 net acres with approximately 1,800 km of pipelines and 21 operated facilities in the area. By applying horizontal technologies to reservoirs that were historically developed with vertical drilling, we now have a drilling inventory of hundreds of low-risk wells to keep a stable activity going in this region for many more years.
The Duvernay is an emerging liquids-rich play in Alberta in which the Company is in the early stages of a development program. With approximately 329,000 net acres across the Duvernay, Repsol has one of the largest land positions in the play. Our current focus for this asset is to continue drilling wells to help delineate the play and to achieve efficiencies in order to reduce operational costs. Repsol views the Duvernay as an asset with a significant recoverable prospective resource and tremendous growth potential.
In this leading North American liquids-rich gas play, Repsol has a large, contiguous land base (over 561,000 net acres) with both liquids-rich opportunities and legacy gas production supported by operated infrastructure. Repsol retains a significant competitive advantage in the Edson area through a well-developed midstream business that consists of approximately 2,700 km of pipelines and four processing plants, including the Edson Gas Plant, which is central and accessible to our development opportunities.