MercoPress. South Atlantic News Agency
YPF buys Houston based Apache's operations and assets in Argentina
Argentina's YPF agreed on Wednesday to pay 852 million dollars for all of Apache operations and assets in the country, making the government managed company the largest operator of natural gas. Read full article
Comments
Disclaimer & comment rulesAn engineer has learnt to lie, that is what TMBOA has forced him into: lying for a living. Try squaring this:
Feb 13th, 2014 - 10:05 am - Link - Report abuse 0““We plan to immediately increase gas production by drilling more wells, and at the same time work in coordination with national and provincial authorities to ensure the sustainable development of regional economies”, said Galuccio.”
HTF can you have sustainable development when you are taken more gas out of the ground than ever? Oh yes, he is addressing the argie mentality here, perhaps “Free Energy Stevie” has been advising them!
This guy looks much, much older than he did when he took YPF on after TMBOA fucked it up well and truly by robbing Repsol.
What a shame, engineer turned mini-gangster in less than two years.
And I just love Apache’s desperation in selling to YPF which will exchange one chance for US$217M, add US$50M (cash) and promise Apache the balance of US$585M in 30 days! It will be in argie bonds I bet.
Ha, ha, ha.
@1 Chris R
Feb 13th, 2014 - 10:15 am - Link - Report abuse 0“nd promise Apache the balance of US$585M in 30 days! It will be in argie bonds I bet.”
Do Apache deal in scrap metal? Argentina might hand over their Navy instead.
It appears that Apache is trying to cut their losses, and collect a pittance of a liability that's dragging them down. No business, no matter how promising can survive under Kirchnerite rule.
Feb 13th, 2014 - 12:03 pm - Link - Report abuse 0First PetroBras now Apache, looks like they are getting while the getting is still good.
Feb 13th, 2014 - 12:42 pm - Link - Report abuse 0The Rgs don't have the talent or expertise to make up what's leaving the country.
4 yankeeboy
Feb 13th, 2014 - 04:47 pm - Link - Report abuse 0Well, that just about cleans out the pot then doesn't it? The population will starve but at least they will own another company....Great!!!!
I can't wait to see if they do actually get paid for this.... and by “paid” I mean money actually changing hands!!!
What a smart strategic move by YPF at a bargain price too.......Miguel is kicking ass down there and delivering on his promises
Feb 13th, 2014 - 11:53 pm - Link - Report abuse 0This is great for local businesses and service provider s and indeed my own company should be able to grow our revenues significwntly on the back of this one - we are going to make a fortune on the shale gas business and certainly going to boost my bank account in Miami
A great win for Argentina !
Interesting read from Apache PR, in a nutshell Rg gov't was pressuring to bring in new capital and they said no and that they would only invest from cash flow within Argentina.
Feb 14th, 2014 - 12:02 pm - Link - Report abuse 0That is why they sold out.
They are smart to get out now.
Ifs funny because Apache is one of the companies the uniformed trolls bring up when they say they have Int'l oil companies investing in Argentina.
Well not anymore and they are all leaving as quickly as possible.
YPF does not have the talent or cash to take advantage of the possible potential that exists.
They will be importing more o/g than they did last year
lowering reserves even more
What a disaster.
While the yankee boy sits and criticizes the rest of us in Argentina are out there doing business and making money - make no mistake about it Miguel is increasing production, YPF share price has more than doubled, rig count is up and its Latin Americas growth market for 2014 and beyond! hahaha - I will soon be travelling to Houston to upgrade the Ferrari
Feb 14th, 2014 - 03:48 pm - Link - Report abuse 0Diego, There no spin that you can come up with that says when an Int'l oil company leaves a country it is good news.
Feb 14th, 2014 - 04:19 pm - Link - Report abuse 0If you want to keep being deluded it is up to you.
Yankeeboy - you are wrong once again - it happens all the time
Feb 14th, 2014 - 06:34 pm - Link - Report abuse 0Oil companies make strategic adjustments to their global business portfolios regularly................they buy and sell all the time - nothing new about that
Argentina wants capital commitments right now and Apache is not going to outspend cash flow in that country,” James Sullivan, an analyst with Alembic Global Advisors in New York, said in an e-mail message.
Feb 14th, 2014 - 09:05 pm - Link - Report abuse 0Yes they do but you just had 2 of the largest Int'l players leave in the last 2 months.
Argentina is doomed
They don't have the smarts nor the cash to what needs to be done in Vaca Muerte.
Happens all the time my friend - Petrobras are pulling out of almost all their international ops to focus on presalt - Talisman sell their north sea assets to the Chinese because they lost money etc etc nothing with adjustment of portfolios
Feb 15th, 2014 - 12:47 am - Link - Report abuse 0You got your blinkers on wrt to Argentina but everybody else is ramping up their business here - YPF will get there - watch the share price
Funny you're the only one that's saying anything good about business in Argentina.
Feb 15th, 2014 - 12:54 am - Link - Report abuse 0Ford even publically called the country a basketcase.
You are a stilly fool
Erm..........maybe that's because I believe in the country and it's people and understand that countries go through good times and rough times just like USA - it's never as bad as you retrobates suggest
Feb 15th, 2014 - 03:13 am - Link - Report abuse 0I really don't understand all the negativiy here - if you don't like it then you know what you can do............
You do realize the economy is on the verge of a total melt down, right?
Feb 15th, 2014 - 11:16 am - Link - Report abuse 0Hyperinflation then
Depression is assured
It is a matter of months not years.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!