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Montevideo, September 20th 2018 - 07:06 UTC

Argentina with 'Vaca Muerta' won the 'geological lottery': 305 meters-thick shale oil and gas

Friday, May 23rd 2014 - 23:50 UTC
Full article 10 comments
Chevron Kent Robertson has only words of praise for the development prospects of Vaca Muerta Chevron Kent Robertson has only words of praise for the development prospects of Vaca Muerta
The deposits are located in Patagonian provinces with a long oil and gas history and culture  The deposits are located in Patagonian provinces with a long oil and gas history and culture

Argentina has won the “geological lottery” with its 305 meters-thick Vaca Muerta shale oil and gas field in Patagonia, a spokesman for Chevron said on Thursday, as the U.S. energy giant increases its investments in the country. The company and state-owned oil firm YPF announced plans last month to invest an additional 1.6 billion to develop Vaca Muerta.

 “The shale play in Argentina is unique because of the rock. Its thickness. Argentina has kind of won the geological lottery” Chevron spokesman Kent Robertson was quoted in Buenos Aires.

Shale formations often resemble layer cakes, with shale squeezed between layers of unproductive rock. “But Vaca Muerta is like one big cake, 305 meters thick in places, which means one well can be much more productive,” Robertson said.

Some studies indicate Argentina is sitting atop a shale bounty that could transform the outlook for the Western Hemisphere's supply and secure the country's energy self-sufficiency for decades.

“What we've seen with YPF has been positive so far. Their per-well costs are coming down,” Robertson added. “And the provincial governments in the area of Vaca Muerta understand oil development. They support it. So that's one less barrier.”

Many communities object to hydraulic fracturing, also known as fracking, by which water, sand and chemicals are injected deep into shale fields to unlock hydrocarbons.

“One of the unique things about Vaca Muerta from an international perspective is that it is in an area where you've already got oil industry activity,” Robertson said.

“There is already an established oil industry in the region where the shale is. You've got service companies, you've got pipelines and infrastructure,” he added. “You've got existing assets that do not need to be recreated. Plus you've also got a head start in that you have knowledge of the rocks.”

Top Comments

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  • Marcos Alejandro

    “There is already an established oil industry in the region where the shale is. You've got service companies, you've got pipelines and infrastructure,”

    Say no more.

    May 24th, 2014 - 12:18 am 0
  • golfcronie

    I am sooo glad for you, he has undoubtably been misquoted or paid to say that. He obviously wants more Major oil companies to share the burden of dealing with the shit government you have. Bet the FALKLANDERS get the oil before you do. I understand that they are sidetracking and going to bleed VACA MUERTA dry.

    May 24th, 2014 - 07:14 am 0
  • yankeeboy

    All that oil underground and nobody drilling.
    I wonder why?

    May 24th, 2014 - 01:43 pm 0
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