Repsol continues to grow in the United States. The company has entered into an agreement with the Japanese Inpex to resume its oil and natural gas production development activities on the Eagle Ford field in Texas.

Inpex’s decision to divest is primarily based on the company’s view of optimize the group’s overall asset portfoliowhile the Spanish company thus manages to strengthen itself on short cycle assets, with a low carbon footprint and located in strategic countries.

Most of the assets are located in Karnes County, Texas, which is considered a highly productive area for the oil in the region. Until now, Inpex was the operator of the project, except for some of these assets.

With this latest operation, Repsol will reach a mining area of ​​126,000 acres and increase its production in the area to 48,905 barrels of oil equivalent.

According to Inpex data, the area had a production capacity in 2021 of 6,000 barrels equivalent of oil per day and 10 Mmcf/d of natural gas.

This transaction will strengthen the company’s presence in the United States as well as the operations it has carried out over the past year.

Repsol has reached an agreement with the Australian group Santos – formerly Oil Search – to acquire a 49% stake in a total of 46 exploration blocks in Alaska. Likewise, it acquired the Abarta mining estate in the Marcellus Basin and took 11.3% of the Blacktip deposit in the Gulf of Mexico.

The oil company also bought out Rockdale Marcellus in January 2022, to take over properties Shell owned in Tioga, Lycoming and Bradford counties in Pennsylvania in 2017. The oil company then paid out $222 million—approximately 200 million euros currently of the operation – to gain 42,000 acres and production close to 80,000 barrels.

The Spanish company aspires to reduce emissions from its exploration and production activity and to do this it is also reducing the weight of heavy oil deposits with operations such as the sale of two of its Canadian Duvernay and Chauvin megawells for 430 million euros.

Repsol, TotalEnergies and Shell also gave their agreement in mid-January to invest in Brazil. The three oil companies will develop the Lapa Sur-Oeste field in the Santos basin, some 300 kilometers from the Brazilian coast, thanks to an investment of 1,000 million euroswhich is the first macro investment after Lula’s return.