Repsol Explores “Reverse Merger” of Upstream Assets with APA

Repsol S.A. is a Spanish multinational energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2022 Forbes Global 2000, Repsol was ranked as the 320th-largest public company in the world. As of 2022, it has 24,000 employees worldwide. Repsol, with shares traded on the Spanish Stock Exchange, has major assets around the world. It also has approximately 214,000 net acres of leased land (with wells) in the Marcellus Shale, primarily located in northeastern Pennsylvania, specifically in Bradford, Susquehanna, and Tioga counties. Repsol is considering a "reverse merger" of its upstream assets (worth $19 billion) with APA (formerly Apache, a Permian oil driller), according to super-secret sources whispering to Bloomberg.

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