MercoPress. South Atlantic News Agency
YPF/Chevron signed an understanding to explore for shale gas and oil in Neuquen
Argentina's recently nationalized oil and gas producer YPF SA and the US Chevron Corporation have signed a memorandum of understanding to explore for unconventional energy in Vaca Muerta, in the Patagonian province of Neuquen. Read full article
Comments
Disclaimer & comment rulesI find it very curious there is not a Press Release from Chevron over this HUGE news. Hmmm...is that desperation I smell?
Sep 15th, 2012 - 11:48 am - Link - Report abuse 0So far it’s an agreement to look into it, remains to be seen if any actual deal results from it, and on what terms.
Sep 15th, 2012 - 11:57 am - Link - Report abuse 0And yes, the Chevron view is definitely more muted than the YPF one.
RG gov't puts out Press Releases and plants new articles waaay tooo soooon. They always end up backtracking with mud on their faces. I can't believe the RG press doesn't keep throwing it back in their faces.
Sep 15th, 2012 - 12:05 pm - Link - Report abuse 0I doubt anything will come of this “understanding” with Chevron. Why would they throw money at something with no hope of ever getting it back or the fear of being nationalized? Makes no sense and they can wait until CFK is gone the o/g isn't gong anywhere.
@3
Sep 15th, 2012 - 03:17 pm - Link - Report abuse 0Even with TMBOA gone, who in their right mind would trust any future AG government without an escrow account to protect their money?
Chevron are far from stupid or gullible and you would have to be both to commit any money to this fiasco.
What the article doesn't say is that Repsol are taking legal action to prevent Chevron from doing the deal.
Sep 15th, 2012 - 04:01 pm - Link - Report abuse 0I don't think anything will come of it, although I wish it would, as it would ensure my pension!!!!!
Chevron is an American traded company. If anything was concrete and money was being spent, there would have to be a news release by Chevron. I think this is nothing more that an understanding that they will officially discuss exploration. Chevron is already in argentina exploring shale.
Sep 15th, 2012 - 04:18 pm - Link - Report abuse 05 Simon68
Sep 15th, 2012 - 06:16 pm - Link - Report abuse 0I take it that your pension lies with YPF then, otherwise I don't get what you mean?
The yanqui experts have spoke.No one believe this article until the yanqui experts confirm its authenticity.(perhaps it didn't even warrant their time)Is their money involved for these people who said nothing?I think so.
Sep 15th, 2012 - 08:57 pm - Link - Report abuse 0Shall Argentina seek capability from elsewhere?Experts?
http://www.ieco.clarin.com/empresas/Criticas-Londres-YPF-busca-fondos_0_774522670.html
Sep 15th, 2012 - 09:14 pm - Link - Report abuse 0I am looking forward to seeing what RGies gave up. To think Chevron is doing anything (if a deal is consummated) this for the good of argentina is a delusion of the largest magnitude. Oil will be profited from in rgland from Chevron.
Sep 15th, 2012 - 09:32 pm - Link - Report abuse 08 Yuleno
Sep 15th, 2012 - 09:40 pm - Link - Report abuse 0I am not an American, I am a Brit, but I have worked in the oil rig / refinary production business as an engineer.
So, what qualifies YOU to comment on 'yanqui experts' in a derogatory fashion?
Once put a half-litre of oil in somebody's engine? Or, oiled your bike chain?
With oil experts like you no wonder LatAm is well and truly fcuked.
ChrisR I find that funny as they typically think everyone here is British is they do not agree with cfk. They always refer to me as a Brit and yet I couldn't get more American than I am.
Sep 16th, 2012 - 12:54 am - Link - Report abuse 0Yuleno is not bad and not a troll, certainly more thoughtful then the others. He just happens to be philosophically dichotomic opposite to what role a government should play in commerce and enterprise.
You do realize Yuleno that Chevron is not coming in on the deal that was given to Repsol(before they were robbed) and that this deal was signed prior to year end and the details will be filed in the 10k with the SEC at calendar year end?
However, that being said, Chevron has been in argentina a long time and worked with ypf since the 90s. The details of the memorandum is to “explore what opportunities exist”. Most business people understand what that means; further talks will develop to discuss contract details. When you take a company like Chevron and a market capitalization of 230 billion U$(YPF=5 billion), they did not get they way by accident and giving away money for nothing. Check the cheat sheets if you get them.
Hmm. In the U.S., the gov subsidizes the exploration done by corporations like Chevron. The gov is not handed 'investment money' by them.
Sep 16th, 2012 - 03:00 am - Link - Report abuse 0The Arg gov needed a loan of $1.5 B, mostly from Anses, for YPF. I am curious as to whats stopping this from going the the way of Aerolineas..
If YPF does indeed get a new type of financing from Chev, it will strengthen Obama's claim that the industry can exist without subsidies :)
Ayayay ...are you defining subsidies by tax breaks for R&D,or in this case....exploration?
Sep 16th, 2012 - 03:24 am - Link - Report abuse 0Once again the CFKs government spins a tall tale in the hopes that their own citizens believe it. Chevron has not signed a contract to drill for oil and gasl. They have signed a memorandum of understanding.
Sep 16th, 2012 - 08:22 am - Link - Report abuse 0In other words, Chevron have the right to look around to see if there is anything worth investing in, but they have not signed a contract so are under no obligation to drill for oil and gas.
I believe they are probably looking at the prospects now, filing it away for the future, and as soon as Argentina gets a decent government, they'll probably be straight in there, already having done the recce.
From a business point of view it makes sense. Get the preliminaries out of the way, and once you get a decent government, sign a contract, and start drilling immediately, thus cutting the costs.
7 ChrisR (#)
Sep 16th, 2012 - 03:47 pm - Link - Report abuse 0Sep 15th, 2012 - 06:16 pm
The reason is, Chris, that the Neuquén Government pays my pension, and the NG gets a mayor part of its income from o&g royalties!!!!
16
Sep 16th, 2012 - 06:01 pm - Link - Report abuse 0then, you are from Neuquén...well
would you tell us about Sabbag Family what you know on them. ?
16 Simon68
Sep 16th, 2012 - 06:33 pm - Link - Report abuse 0Got it!
Thanks Simon68. :o)
Chevron, wan't that the one that named a tanker after Condi Rice...
Sep 16th, 2012 - 09:25 pm - Link - Report abuse 0she was a Board Director of Chevron for ten years.....but you knew that.
Sep 16th, 2012 - 09:45 pm - Link - Report abuse 0Where does it say anything other than an understanding has been signed.Of course chevron are active in other activities with YPF in Argentina.
Sep 16th, 2012 - 10:17 pm - Link - Report abuse 0You are correct.........the article is pointless to announce nothing.
Sep 16th, 2012 - 10:34 pm - Link - Report abuse 017 LightThink (#)
Sep 17th, 2012 - 01:50 pm - Link - Report abuse 0Sep 16th, 2012 - 06:01 pm
I think you mean the Sapag family, what do you want to know about them?
Outstanding News!
Sep 17th, 2012 - 07:32 pm - Link - Report abuse 0Yup and Dewey beats Truman
Sep 17th, 2012 - 09:02 pm - Link - Report abuse 0@ 12 Conqueror/Captain Poppy
Sep 18th, 2012 - 06:00 pm - Link - Report abuse 0Is not an “american”.
Conqueror/Captain Poppy said he wouldn't release his name, location and telephone number....because he is afraid of the “crazy” people in the USA.
ONLY A WIMP MAKES SUCH COMMENTS.
Why don't you change your mind and let us know WHO are you?
Oh! No
I am afraid of the “crazy” people in the USA!
Typical response of a british wimp penis!
Conqueror/Captain Poppy said that as an “USA Citizen”...
He ignores the USA is flat broke,
12 USA embassies under attack by the Taliban,
24 USA citizens unemployeed,
46 USA citizens collecting “food stamps” to survive,
26 USA millons living below poverty,
and worst of all AN UNCERTAIN FUTURE ...
Conqueror/Captain Poppy ....you have time now to tell us WHO are you
if ....you feel you worth to read your comments....
Will you tell us who are you?
....I am waiting.....come on...what are your afraid of?
Boy sussie.......I must really be unnerving the cyber K taliban in such a way that they want my persoanl information.
Sep 18th, 2012 - 08:23 pm - Link - Report abuse 0I am happy that I unnerved you guys so much......lol
AND I SHALL NOT STOP!!!!!!!!!!!!!!!!!
hehehehehehehehehehe unnerving is it not.....to wonder?
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