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Repsol sets sights on 50% Marcellus growth by 2020

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Spanish major Repsol is mobilizing an additional rig in the Marcellus that will add 72-84 MMcfe/d by itself in 2019 and contribute to 20% YOY production growth. The two-rig program and capital investments of $400 million a year are expected to raise volumes 50% by the end of 2020 and make the unit cash flow positive. “The breakeven of this second rig project is in $2.40-$2.50/MMbtu,” CEO and executive director Josu Jon Imaz San......
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