Spanish firm Repsol on Monday announced a major oil discovery in the Gulf of Mexico about 219 miles from the Louisiana coast. Repsol found nearly 500 feet of net oil pay in the ultra-deep-water Leon well located in the Keathley Canyon 642 block. The well was drilled in over 6,000 feet of water and reached a total depth of nearly 32,000 feet.
As of 2014, nearly 10% of Repsol’s total production is attributed to the U.S. Repsol has mining rights in the Gulf of Mexico and Alaska and is developing unconventional resources in the Mississippian Lime play.
