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Repsol's Talisman Takeover Skyrockets 3Q Production; Talks Armstrong JV
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Repsol S.A. detailed its third quarter results after sealing its $13B acquisition of Talisman Energy Inc. in the second quarter of this year as well as discussed its new partnership with Armstrong Oil & Gas.
3Q15 Spending & ProductionCapital investments in the 3Q15 period were USD$878 million (compared to USD$815 million in 3Q14).
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Upstream net capital expenditures in the first nine months of 2015 came in at USD$11.429 billion (68% in development capital (or USD$7.77 billion) and 29% in exploration capital (or USD$3.3 billion)). Repsol noted that the majority of the spending was due to the Talisman deal, earmarking only ~USD$2.66 billion in spending unrelated to the deal.
Repsol ramped up nine-month production ~47% year-over-year to 512.2 KBOE/d (3Q15 production of 653.4…
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