Drag is primarily made up of two component, parasitic drag and induced drag. Parasitic drag is proportional to the area of the wing and the square of the velocity. Foil section and angle of attack are also factors, but for the sake of argument you can assume these are constants.
induced drag is dependent the aspect ratio and the lift coefficient, which itself is dependent on the angle of attack, which in turn will be determined by the area of the wing and the square of the velocity.
So as speed increases, parasitic drag increases and induced drag decreases, as in the diagram below

The net result is that at low speeds, total drag is dominated by induced drag, and at high speed, drag is dominated by wing area. As a general rule, for straight line performance you should aim to maximise wing span to minimise induced drag, then choose wing area based on the speed range you wish to operate in, large area wings for low speed efficiency, narrow chord wings for high speed flight.