Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. However, the company’s upstream (drilling) operations extend far beyond the Marcellus–to other plays and even to other countries. EIG, a leading institutional investor in the global energy and infrastructure sectors, yesterday announced that it has entered into a deal with Repsol to acquire a 25% stake in Repsol’s upstream operations. EIG will pay Repsol $4.8 billion for the privilege. And what will Repsol do with $4.8 billion in cash?
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. However, the company’s upstream (drilling) operations extend far beyond the Marcellus–to other plays and even to other countries. EIG, a leading institutional investor in the global energy and infrastructure sectors, yesterday announced that it has entered into a deal with Repsol to acquire a 25% stake in Repsol’s upstream operations. EIG will pay Repsol $4.8 billion for the privilege. And what will Repsol do with $4.8 billion in cash?