Post by
DrNo1962 on Jul 03, 2021 7:43pm
O&G Assets...
SHL.v acquired Repsol heavy O&G assets near Unity, SK. Desperately trying to find some more info on - what sounds like - a very positive acquisition especially in light of current oil prices. These assets were shut-in when WTI was approx $25/bbl. Believe these 'Unity, SK' Repsol assets are deacribed as 'Chauvin, AB' Repsol assets on their website as this is neighbouring AB community to Unity, SK. These heavy assets described very favorably by Repsol "low-risk wells to keep a stable activity going in this region for many more years". Hopefully SHL shareholders get some more info once this deal closes. Share price certainly not reflecting much positive... Yet. That will change IMO. From Repsol website: Chauvin With more than 50 years of development, Chauvin is considered one of the Companys 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.