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Mexico’s Pemex oil company expected to join YPF in developing shale resources

Wednesday, September 4th 2013 - 01:36 UTC
Full article 11 comments

YPF Chief Executive Officer Miguel Galuccio said Argentina’s nationalized energy company is willing to form a partnership with Mexico’s state-run Petroleos Mexicanos to develop shale oil and natural gas deposits in the Vaca Muerta formation. Read full article

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  • travellingscotsman

    The blind leading the blind.

    Sep 04th, 2013 - 03:39 am - Link - Report abuse 0
  • Stevie

    If there's one thing we know, it's that your threats are empty. When it comes to $, your respective governments all bends over to the biggest dollar sign.

    No scruples, no loyalty. Plain profit.

    That's an easy instrument to play on...

    ;)

    Sep 04th, 2013 - 05:25 am - Link - Report abuse 0
  • Condorito

    @ Stevie,
    “When it comes to $, your respective governments all bends over to the biggest dollar sign”

    ?

    Are you referring to the RG government seeking to get Chevron, CNOOC, Pemex, etc to come dig YPF out of a hole?

    Sep 04th, 2013 - 08:50 am - Link - Report abuse 0
  • yankeeboy

    I bet the any oil companies that sign now will slow walk the development just enough to hold onto concessions until CFK is gone.
    Plus CFK will need to come to an agreement with Repsol before any oil/gas starts pumping. It is theirs until they're paid.

    Sep 04th, 2013 - 08:54 am - Link - Report abuse 0
  • Captain Poppy

    “After YPF sealed its first shale accord with Chevron Corp. on July 16, Galuccio said Argentina needs more partners like the California-based company to stop a production decline”

    How far can the Argentine government bend over for these dollar signs? I bet she doesn't even need lube

    Sep 04th, 2013 - 09:01 am - Link - Report abuse 0
  • Conqueror

    I'm curious. Why do all these “announcements” come from argieland? All the “announcements” about a country's “support” for argieland's illegitimate claims to the Falkland Islands come from argieland. All the “announcements” about argieland's “impending” economic “boom” come from argieland. Listen. 64 years ago the Messiah was born. Embrace the message of the Messiah and all your “problems” will be solved. Vote for the Messiah. Send your votes on a signed and dated cheque/check with the recipient and amount areas left blank. I can fill those in. Please make sure there is enough money in your account. Send your vote to............

    Sep 04th, 2013 - 09:16 am - Link - Report abuse 0
  • ChrisR

    It shows the utter desperation of Galuccio to get help that he is prepared to use another state monopoly who has demonstrated consistent incompetence over the 70 years that they have been operating PEMEX so that falls in oil production for the last of nine straight years leaves them at the lowest level in 18 years. PEMEX have NO experience in this type of fracking and by the look of it are ideally matched to YPF.

    A marriage made in hell then! Or Mexico, but that’s the same thing anyway. I remember La Think lauding the success of PEMEX when TMBOA stole YPF. Wrong as usual then.

    Pan American Energy faces a real problem with the low output of Cerro Dragon if the extended labour problems have ‘blinded’ the well. Blinding can occur when the normal oil flow from areas of the field is stopped for any length of time and the oil “settles” into an even thicker, almost plug like, formation.

    After doing all the easy things to move the plug they may have to drill another well on the upstream side of the plug to get the flow back to comparable volumes before the labour strike.

    Sep 04th, 2013 - 09:35 am - Link - Report abuse 0
  • Gonzo22

    “the huge resources from Vaca Muerta” in our territory, not in another country's territory.

    Sep 04th, 2013 - 09:37 am - Link - Report abuse 0
  • yankeeboy

    Chris, I was thinking the same thing. Pemex is a disaster, they have lots and lots of oil in the Gulf and on land that they can't seem to get drilled why they would think about taking the time and $ in such a risky country is beyond me.

    Sep 04th, 2013 - 09:46 am - Link - Report abuse 0
  • Optimus_Princeps

    @9 “The grass is always greener on the other side of the fence”, says the jackass as he cranes his neck ignoring what's in reach.

    That definitely applies here. Someone's money is going to get embezzled before this gets off the ground.

    Sep 04th, 2013 - 01:54 pm - Link - Report abuse 0
  • Elena

    Why does this article made it seem as if YPF is only calling on PEMEX for deals, last I heard Chevron was being offered a deal too.

    Sep 08th, 2013 - 12:30 am - Link - Report abuse 0

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