Repsol is an integrated global energy company based in Madrid, Spain. The company carries out upstream and downstream activities throughout the world . Repsol is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. The Repsol Group has operations in over 40 countries with more than 27,000 employees.
Repsol has made more than 40 discoveries since 2007, including eight of the largest finds worldwide. The Repsol Group production has increased by 85% to 656,000 barrels of oil equivalent per day and has the total proved reserve volume has increased by 47% to reach 2.270 billion barrels of oil equivalent.
The acquisition of Talisman by Repsol was finalized on May 8th, 2015. Under the arrangement, a wholly-owned subsidiary of Repsol has acquired all of the outstanding common shares of Talisman at a price of US $8.00 per share and all of the outstanding preferred shares of Talisman at a price of CDN $25.1093.
Today, Repsol produces more gas than oil. After the $13 billion acquisition of Talisman Energy Inc., finalized in May, gas will account for roughly 55 percent of Repsol's output. Hydrocarbon production is expected to grow at an average annual rate of 7%, reaching 500,000 barrels of oil equivalent per day by 2016 supported by 10 key growth projects located in Brazil, the United States, Russia, Spain, Venezuela, Peru, Bolivia and Algeria. Seven of these projects are already underway.