Repsol May Spend $10 Billion on Assets After Stake Sale

Repsol SA is willing to spend as much as $10 billion acquiring assets in Canada, the U.S. or northern Europe as it plans to sell its $7 billion stake in Gas Natural SDG SA, Chairman Antonio Brufau said.

Spain’s largest oil producer is considering buying unconventional oil and gas assets in North America with the eventual proceeds, and it may make two or three smaller acquisitions rather than one large one, he said in an interview. Brufau said he’s not interested in oil sands.