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Stock impact report

Santos Hits Strong Alaska Appraisal Well as Pikka Nears First Oil [Yahoo! Finance]

REPSOL SA SP/ADR (REPYY) 
Company Research Source: Yahoo! Finance
The Australian producer said Quokka-1 encountered around 143 feet of net oil pay in the Nanushuk formation, with an average porosity of 19%. After a single-stage fracture stimulation, the well flowed at 2,190 barrels per day, reinforcing management's view that Quokka could become a material addition to its Alaska portfolio. Santos holds a 51% operating stake in the Quokka Unit, with Repsol owning the remaining 49%. The result matters because Quokka sits close to existing Santos infrastructure and acreage on Alaska's North Slope, roughly six miles from the Mitquq-1 discovery well drilled in 2020. Santos said reservoir sands correlate between the two wells, while fluid analysis confirmed light-gravity crude. That points to stronger well performance and potentially better pricing than Pikka oil, an important detail as producers focus not just on volumes but on realized margins. Management said the new data support the potential for a two-drill-site development with output capacity Show less Read more
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