Integrated Spanish major: upstream (US Eagle Ford/GoM, Norway, Trinidad, Venezuela, Libya, Brazil) plus large Iberian refining/retail and a fast-growing low-carbon power business; ~570 mboe/d and five domestic refineries anchor cash flow.
Solid balance sheet (net debt/EBITDA <1x), ~7% dividend plus recurring buybacks; sold 25% of the US upstream unit to EIG to fund the transition. Flags: refining-margin normalization, Spanish/EU windfall taxes, and geopolitical exposure (Venezuela, Libya).
Its EV/EBITDA of 6.7x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 6.2% is lower than the 6.5% median, and at $24.70/boe of proved reserves it is richer than the $13.51/boe median.
On a balanced screen across the universe, Repsol scores 35/100, strongest on safety (46/100). Sub-scores: value 44, quality 22, growth 15, risk 54 (higher = riskier).
Repsol holds approximately 1.51 billion boe of proved (1P) reserves with FY2025 production of about 548 thousand boe/d (35% liquids), a reserve life of roughly 7.5 years. Break-even: ~$40 (organic FCF break-even (Brent)) — Brent price at which organic operating cash flow covers capex plus the cash dividend.
For Repsol, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Other | 38% | 50 | diversified/unspecified exposure — universe-average proxy |
| United States | 25% | 23 | Stable, deep; federal-lands leasing and permitting policy swings. |
| Trinidad & Tobago | 12% | 44 | Mature gas, declining reserves, cross-border Venezuela deals. |
| Norway | 10% | 3 | Stable, predictable; high but transparent 78% tax. |
| Libya | 10% | 98 | Civil conflict, blockades, split governance, force-majeure risk. |
| Brazil | 5% | 61 | Complex tax/local-content rules; Petrobras policy swings, strong pre-salt. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| US Eagle Ford / GoM | United States | Upstream | core US oil & gas |
| Norway (Yme/Gjoa) | Norway | Offshore oil/gas | North Sea |
| Trinidad | Trinidad & Tobago | Gas | LNG feed gas |
| Spanish refineries (Cartagena/Bilbao) | Spain | Downstream | five refineries |
| Retail (~3,300 stations) | Iberia | Marketing | Iberian fuels retail |
| Renewables | Spain/US | Power | low-carbon generation |
| Campos 33 / Brazil | Brazil | Offshore oil | pre-salt |
| Venezuela (Cardon IV) | Venezuela | Gas | JV gas |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 572 | 550 | 590 | 570 | 548 |
| Proved reserves (bnboe) | 2.00 | 1.90 | 1.90 | 1.90 | 1.51 |
| Revenue ($bn) | 56.0 | 78.0 | 64.0 | 54.0 | 53.5 |
| EBITDA ($bn) | 8.5 | 13.5 | 10.0 | 7.6 | 5.6 |
| Net income ($bn) | 2.7 | 4.6 | 3.5 | 1.9 | 2.0 |
| Free cash flow ($bn) | 3.0 | 4.5 | 2.5 | 2.0 | 1.7 |
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✓ FY2025 figures verified against primary sources: