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YPF buys a Petrobras Neuquén/Mendoza block with production of 10.000bpd

Tuesday, February 4th 2014 - 08:47 UTC
Full article 14 comments

Argentina oil company YPF has bought out Brazil player Petrobras to take over full ownership of an exploration block in Neuquen and Mendoza provinces. YPF agreed to pay 40.7 million dollars for Petrobras' operatorship and 38.45% stake in the Puesto Hernandez block, cutting short a joint venture due to expire in 2016, according to the Argentina explorer. Read full article

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  • Anglotino

    Petrobas is smart enough to get out now.

    Come back when it's bargain basement.

    Feb 04th, 2014 - 09:12 am - Link - Report abuse 0
  • yankeeboy

    As I have said, Int'l companies are running for the exits. The last one out is going to be sorry.

    Feb 04th, 2014 - 02:00 pm - Link - Report abuse 0
  • Conqueror

    Hang on. YPF has “agreed to pay”? Hasn't yet paid then? Will it ever? Where's that money come from? More criminal activity?

    Feb 04th, 2014 - 03:38 pm - Link - Report abuse 0
  • ChrisR

    Galuccio has been told he cannot resign.

    The Dark Country - just like Hotel California: you can sign in but you can never leave!

    He will be near the top of TMBOA “it was them” list.

    Feb 04th, 2014 - 04:10 pm - Link - Report abuse 0
  • Narine T. Nüster

    Mendoza does not need that reserve now. We will have treasure for decades to come by keeping on the ground a few more years.

    Feb 04th, 2014 - 05:15 pm - Link - Report abuse 0
  • golfcronie

    @5
    OH dear , you have given up being what do you call it?, oh yes an EUian wasn't it? Or do you not understand English?
    “ We will treasure for decades to come by keeping on the ground a few more years”
    You should have said “ The inhabitants of Mendoza will have treasure by keeping the oil in the ground a few more years”. Although to be perfectly honest makes no sense at all when you consider you are going to have to import 13.1 Billion US$ of oil and gas just to get by in 2014.
    .

    Feb 04th, 2014 - 06:06 pm - Link - Report abuse 0
  • Anglotino

    Oh Toblerine has emigrated to Mendoza? Did anyone tell shim that they don't like EUians?

    Anyway I love the fallacy that leaving something in the ground is always a good investment. Yes that resource is available for future use. However that doesn't mean that you get the best return.

    Investing the returns from resource exploitation into infrastructure and education is also creating a resource for the future. Chile is a good example. Just because Chile exports copper doesn't mean the rest of the economy is static. Taxes form the copper industry are being used to deepe and broaden the economy to create new jobs and industries.

    Leaving Mendoza's oil to future generations doesn't help the current one.

    Feb 04th, 2014 - 08:02 pm - Link - Report abuse 0
  • El Diego

    YPF have just made a very shrewd investment there and will payback in no time because Chevron are about to receive this acreage as part payment for a multi billion investment in Argentina that will be announced in Houston shortly. Schlumberger will be involved in a tripartite agreement with YPF and Chevron that will triple production there over the next 5 years . This is great news for Mendoza and will help diversify the economy from wine and tourism and will create 20 thousand jobs

    Feb 05th, 2014 - 01:18 am - Link - Report abuse 0
  • yankeeboy

    8. Nobody will invest in former Repsol holdings until the deal is done with them.
    How can you not understand this?
    YPF doesn't have clear title they can't sell anything.

    Feb 05th, 2014 - 01:29 am - Link - Report abuse 0
  • El Diego

    The deal is already done my friend -

    Feb 05th, 2014 - 02:46 am - Link - Report abuse 0
  • Marcos Alejandro

    Oh dear! Premier Oil's chief executive resigns.
    Brit comment
    “Today’s news re Premiers CEO and the markets reaction confirmed what we all knew but probably didn’t want to admit; there is little or no interest/trust/faith in the FI”

    Feb 05th, 2014 - 03:29 am - Link - Report abuse 0
  • yankeeboy

    10. How funny there has not been one announcement on the deal being done.
    Not one
    Your brain is warped with propaganda.

    Feb 05th, 2014 - 11:50 am - Link - Report abuse 0
  • BLACK CAT

    Mendoza is 1 of five states pending environmental claims which suddenly popped up just after renationalisation. Uuuuuuuuuuuuuum now that could get messy for other partners involved in the operation of the field, when the mud starts to fly (and it will) it's best to be out of the country and with minimal asset exposure.

    Feb 05th, 2014 - 12:16 pm - Link - Report abuse 0
  • ChrisR

    @ 8 El Diego

    Would this tripling of production be ON TOP of the much heralded (literally) DOUBLING of the output since “The Dastardly Duo” of Kickitoff and some old twat in another ministry took Repsol assets over?

    I have worked in the oil industry and I would love to see that TRIPLING in only five years.

    You really DO believe this crap that TMBOA and her seven dwarfs spout don’t you?

    So put your money where your mouth is and show us the link that proves your claim.

    Feb 05th, 2014 - 04:32 pm - Link - Report abuse 0

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