Repsol's Buckskin Project Starts Up Ahead of Schedule
June 25 2019 - 6:37AM
Dow Jones News
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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