MercoPress. South Atlantic News Agency
YPF announces discovery of conventional oil well in Mendoza: 15m barrels
Argentina's nationalized YPF has discovered a new conventional oil well in the western Mendoza province, which will add 15 million barrels of crude to its reserves. Initial production at the El Manzano bloc and the Mirador del Valle x-1 well at 1,789 meters deep is expected to be around 535 barrels per day, the company said. Read full article
Comments
Disclaimer & comment rules2.5% increase, during a period of inflation x10 that increase, does not bridge the gap. But the absolute need for more petrochemicals is pretty evident!
Nov 11th, 2013 - 08:35 pm - Link - Report abuse 0Its good news indeed!! It might be a pie in the sky considering the crisis but at least it seems Galuccio must be doing something right.
Nov 11th, 2013 - 10:46 pm - Link - Report abuse 0It is like a drop in the ocean compared to Arg consumption.
Nov 11th, 2013 - 11:03 pm - Link - Report abuse 0In any other country this would not be news, not even local news.
Sad.
YPF declared reserves 509 million barrels of oil in 2012 ( how long have they been working to achieve that? ) Rockhopper Oil have found 1.2 billion barrels in the FALKLANDS in the SEA LION COMPLEX ( admittedly best estimate but still ) they started in 2009 I believe. Christ these Argies are slow.
Nov 11th, 2013 - 11:14 pm - Link - Report abuse 0Well, if YPF is so logistically effete as the two jesters who responded above me obstreperously aver, then I would imagine that 15m is probably just 10-20% of what really lies there. So 150 million barrels when a soi-dissant “reputable” foreign company bores the grounds.
Nov 12th, 2013 - 02:45 am - Link - Report abuse 0And add to that the absolute record in fine wine production expected for 2013, and the renewed boom in investment, plus the expansion of IMPSA, and record consumption of bottled water and good tourism numbers...
http://www.globaltimes.cn/content/824039.shtml
As I always said, Mendoza is paradise compared to most places within Argentina, let alone the stuck-in-neutral USA and Europe economies.
Let's play “Grasshopper's” game. He seems to think he is on top of everything. However I wonder what happened to tittit boi's position of not needing or wanting tourists? Not needing and wanting DFI?
Nov 12th, 2013 - 10:07 am - Link - Report abuse 0A month without CUNTLIPS Kirchner is a bright spot. When she returns will the clouds come back out?
Maybe the “Black Gold.....or Texas Tea” will finally give the Mendozan Malbec some body that it so desperately needs. Those mini derricks will look sweet in the vineyards.
Toby, Fine wines don't cost U$7 in every grocery store. Your sentence should read Mendoza produces decent affordable table wine.
Nov 12th, 2013 - 10:43 am - Link - Report abuse 0@4
Nov 12th, 2013 - 08:19 pm - Link - Report abuse 0I think you may be confusing oil reserves with oil in place. Sealion is currently about 300mmbs reserves with a potential 200-300m more.
So yes, YPF the national oil company of Argentina has little more than the discoveries made to date in the Falklands
“the Mirador del Valle x-1 well at 1,789 meters deep is expected to be around 535 barrels per day, the company said”
Nov 12th, 2013 - 09:47 pm - Link - Report abuse 0Good grief, a WHOLE 535 BARRELS A DAY!
Ha, ha, ha.
And Galuccio is being paid how many millions to come up with ONE piss-ant well in the time he has been in charge?
The terminal I worked on in Nigeria used more than that just to prime the flame stack supply line whenever the stack was cleaned out.
YPF (under TMBOA): the joke of the oil world.
(le sigh) Initial
Nov 13th, 2013 - 04:07 pm - Link - Report abuse 0Commenting for this story is now closed.
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