TRMLF - Repsol looking to sell Duvernay

Repsol (OTCQX:REPYY) is considering selling 170k acres in the Duverney, in a deal that could fetch C$750m, according to sources at Reuters. Repsol also owns upstream assets in the Greater Edson and Chauvin Basins in Alberta; total Canadian production is ~58kb/d, or ~10% of Repsol's global upstream volumes. The Company acquired a sprawling global upstream business with its Talisman acquisition in 2015, and has since committed to reducing its footprint from 25 to 14 countries. Given improvement in Canadian energy fundamentals, Repsol should have no trouble finding buyers (NYSEARCA:USO); perhaps we will get commentary from neighboring operator Tourmaline (OTCPK:TRMLF) when they report earnings early next month.

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Repsol looking to sell Duvernay