Germany's Wintershall joins Patagonia's Vaca Muerta shale gas and oil rush

Wednesday, January 8th 2014 - 05:58 UTC

Full article 13 comments

Germany's Wintershall signed on Tuesday a farm-in contract with the Argentine Patagonia province of Neuquén to explore Vaca Muerta’s shale gas and oil field. Under the terms of the joint-venture agreement Wintershall together with Gas & Petroleo de Neuquen will explore and develop the Aguada Federal block and are committed to invest 80 million Euros. Read full article

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Anglotino
Ooh Nostril's dreams of autarky have been pushed further back..... again!
Jan 08th, 2014 - 09:27 am - Link - Report abuse 0
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ChrisR
It’s all a ploy to entice the foreign money into the country.

Just think of it like Hotel California!

Ha, ha, ha.
Jan 08th, 2014 - 10:46 am - Link - Report abuse 0
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yankeeboy
That is a huge land concession for such a little amount of $. The Rgs are trading the family jewels for peanuts.
No matter If I remember correctly they need U$35B a YEAR for 20 Years to develop the VM area. 80M Euros is a rounding error.
My guess is the OG Exploration companies will try to make a deal like this, huge concessions with little money then slow walk the exploration until CFK is gone.
That's what I would do.
Then they hope for a sane gov't to deal with when they actually extract the oil.
No likely but hope
Plus these OG guys are used to dealing with corrupt ego maniacal dictators BUT even then they are staying away from Arg. It really tells you something!

In any other country this tiny investment wouldn't even make local news.
Jan 08th, 2014 - 11:01 am - Link - Report abuse 0
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Briton
all's well that ends well,

until she gets fed up and nationalises it..lol
Jan 08th, 2014 - 11:32 am - Link - Report abuse 0
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Captain Poppy
80 million Euros....that's like thew pennies from the pocket one tosses in a jar.
Jan 08th, 2014 - 12:57 pm - Link - Report abuse 0
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Optimus_Princeps
80 Million is a toe in the water. 1-2 Billion would represent what they would put in, if they were confident in this venture.

It seems like a “gambling budget” where you expect to lose everything, but if you do, it's not going to be a major hit on your company.
Jan 08th, 2014 - 03:02 pm - Link - Report abuse 0
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Vestige
yap yap yap yap

the yapyap barometer indicates good to very good news for Argentina.
Jan 08th, 2014 - 04:13 pm - Link - Report abuse 0
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Pugol-H
@ 7 Vestige
I suppose the present situation of Argentina is such, that this probably does constitute good news for them.

That and Beckham going to show them how to play football, are the highlights at the moment.

Make no mistake though, 80m Euros is less than a drop in the ocean of what is required here.

Better spend it quickly, before the Euro devalues again, when you have to buy equipment in £ or USD.
Jan 08th, 2014 - 04:44 pm - Link - Report abuse 0
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Briton
On the one hand they want nothing from us or Europe,

On the other hand they take what they can get,

Seem one hand does not know what the other wants..

Still,
CFK should have told the Germans and all the rest to Soddy offy,
But,
Beggars cant be choosey .lol
.
Jan 08th, 2014 - 06:30 pm - Link - Report abuse 0
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golfcronie
@9
Hang on there , was it not Argentina that gave them a home after WW2, perhaps just returning the favour.:-)
Jan 08th, 2014 - 09:52 pm - Link - Report abuse 0
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Briton
a very good point,
perhaps a loose argy may yet comment lol.
Jan 09th, 2014 - 11:00 am - Link - Report abuse 0
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Pete Bog
@7

“he yapyap barometer indicates good to very good news for Argentina.”

Especially when the fracking messes up the water supply-but as with GM crops Argentina does not give jack squit about its own people sufferring from chemical contamination, especially children.
Jan 11th, 2014 - 07:39 pm - Link - Report abuse 0
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ChrisR
STOP PRESS!

Capitan Dismal the Cabinet Chief has “gone on stage” (love that term) to DENY that Miguel Galuccio, the YPF CEO is going to resign!

But given the fact that anything like the pantomime being shown in the picture usually has Galuccio and his rictus grin in it, I wonder if Capitan Dismal is telling porkies, or La Camping It Up have having a word in his shell-like just to “straighten” things out such as his newly acquired broken fingers.

Ha, ha, ha. The end is nigh!
Jan 11th, 2014 - 10:06 pm - Link - Report abuse 0
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