Repsol announces Horseshoe discovery on Alaska's North Slope

This report summarises Repsol's announcement on the Horseshoe discovery and resource potential of the Nanushuk play on Alaska's North Slope. It provides our views on near term development of the emerging play a valuation for the Pikka field and sensitivities around Alaska's volatile fiscal terms. There are currently no fields producing from the Nanushuk play on the North Slope and excellent exploration results thus far indicate the field has the potential to revitalise the mature basin.