MercoPress. South Atlantic News Agency
Repsol board approves the YPF compensation deal worked out with Argentina
Spanish oil major Repsol's board approved on Tuesday in Madrid a definitive 5 billion dollars settlement from Argentina over assets seized in 2012, drawing a line under a two-year battle for compensation. Read full article
Comments
Disclaimer & comment rulesBet they wont take bonds, as they are unlikely to be worth anything than hollow promises
Feb 25th, 2014 - 09:33 pm - Link - Report abuse 0Perhaps CFK will have to visit the Seychelles to use some of her own (cough cough) money
“The Argentine government has also agreed to issue additional bonds to compensate Repsol if the market price of the bonds falls below the agreed compensation”
Feb 25th, 2014 - 10:31 pm - Link - Report abuse 0Well, if Repsol has been taken in by that “agreement” then their board of directors is nuts. Given argentina's track record of only agreeing to something when it is in her best interests to do so and then tearing up the agreement when the going gets tough...
They would be better off looking for hen's teeth...
or rocking horse sh*t......
Give credit where credit is due. Kilchoff since becoming the finance minister has actually do a pretty good job so far for the country, This considering the cluster fu## he got landed with, trying to avert an iceberg! ( And dealing with the old hag)
Feb 25th, 2014 - 11:58 pm - Link - Report abuse 0Would you want the job?
At least they are trying to pay Repsol back to try and help promote some new investment here.
Just don't take a cheque.
Feb 26th, 2014 - 12:06 am - Link - Report abuse 0Excellent News for YPF, Argentina and the OIl and Gas Industry -the strategy is working - YPF share price more than doubled, biggest growth market for 2014 in Latin America oil and gas industry, investment coming in all on the back of one of the biggest shale discoveries on the planet.......I know where my money is invested and has been for last two years -
Feb 26th, 2014 - 02:41 am - Link - Report abuse 0The new Ferrari arrived yesterday - it's a beautiful red colour and quite exquisite - thank you Argentina for a great return on my investment over past two years and more to come. I will continue to invest in you until all our gringo friends believe in you also but then I will be a happy to take their money and buy back the assets later at half price because , you see, they just don't have a clue about business in south America - hahahaha - another slap in the face
(3)
Feb 26th, 2014 - 05:26 am - Link - Report abuse 0Singns of intelligent life in planet Klingon....!
be interesting to see how CFK pays
Feb 26th, 2014 - 07:12 am - Link - Report abuse 0Not long now till the Falklands start producing barrels of oil.
Cant wait to see the new dock facility in place
Interestingly, the growth of the falklands has been an additional 1/3 in total size since 1982, this is going to pale into insignificance with the increase in accomodation for the oil workers etc, and of course the facilties will also improve, as the workers will want something good to spend their money on, which again in turn will increase things for the cruise passengers
On face value, a 19 year payback! No one in the “right world” would do that; perhaps considering the alternatives, and with some dollar denominated “fail-safes”; it might be the best of a very bad lot of options.
Feb 26th, 2014 - 11:37 am - Link - Report abuse 03. Axel was the one who pushed to steal YPF in the first place. So I wouldn't give him too much credit for unsuccessfully bailing himself and the 40MM he took with him out of the horrible mess he created.
Feb 26th, 2014 - 12:36 pm - Link - Report abuse 0Argentina paid a fair price based on the current value. They didn't get a deal by any stretch of the imagination.
YPF is still way below its 5 yr high it will not see that high anytime in the near future.
If a significant amount of new investment isn't secured in the next 6 mos you'll not see any for a generation.
Note the world secured, I don't mean meaningless MOUs, I mean secured cash in hand equipment on the way.
I don't see it happening
Rumor is VM is unprofitable to drill at this time.
TIme will tell.
Yankeeboy - you are so ill informed that it's almost funny if it wasn't so pathetic .......go talk with the oil companies drilling there - one rather well known one on the international scene just recently made a big discovery and just announced a development drilling program. I know because my equipment is on their rigs and we are all making excellent returns on our investment.
Feb 26th, 2014 - 12:45 pm - Link - Report abuse 010. Glad to check it out. Which company?
Feb 26th, 2014 - 12:58 pm - Link - Report abuse 0And how exactly are you making an excellent return if no o/g has been sold yet?
@7 Do you suppose they will share the profits with the islanders like they do in Norway and Alaska?
Feb 26th, 2014 - 01:31 pm - Link - Report abuse 0Diego, I did a quick news search and didn't find 1 not 1 company proclaiming a substantial new find.
Feb 26th, 2014 - 01:48 pm - Link - Report abuse 0So please send me a link or the company name so I can confirm your statement. If you can't we'll have to assume you are a liar.
All the news, and I mean all the news reports said, VM may not be viable/profitable at this time.
Wouldn't it be a kick in the pants if CFK stole YPF because of VM and they can't get anything out profitably.
I would laugh and laugh
We'll see in the next 6 mos.
If there is cheap oil in the islands the Argentine government will buy it from them secretly... Not much movement here
Feb 26th, 2014 - 01:57 pm - Link - Report abuse 0VM is a lot of propaganda even Bridas Bulgheroni said that so far there is nothing to shout about. And that lack of information sharing of the other companies is not very positive either.
Maybe El Diego has a advirtisement company because the ammount of propaganda comming from the gov’t about the place seems to be the only thing moving around and profitable.
http://www.youtube.com/watch?v=mPxckJL0rGU
http://www.youtube.com/watch?v=mPxckJL0rGU
They even have to propagandize VM on tv soaps of para official media
http://www.youtube.com/watch?v=mPxckJL0rGU
All this is covincing me more and more that its all smoke and all lies from the gov't
Costs of drilling are 3 x the cost of drilling in the US and the volumes are lesser
Argentina YPF will desperately focus its attention on conventional exploration
#10 “one rather well known one on the international scene just recently made a big discovery and just announced a development drilling program.”
Feb 26th, 2014 - 02:17 pm - Link - Report abuse 0Who Chevron? They are the only ones adding wells according to their 10-k filings. That is in line with the MOU they signed to get their money released.
At the very least, until kirchner is out of office, imports start to flow, inflation is better controlled and profits are not taxed into oblivion, VM will not be seriously worked.
So El Diego, care to support you statement?
With as much propaganda that CFK puts out on VM if there was a decent well flowing from VM it would be all over the news.
Feb 26th, 2014 - 02:39 pm - Link - Report abuse 0The last company that found something told the gov't to call them back when they have a 250 mile long aqueduct and desalination plant built.
You can't frack without water.
I guess nobody told them that.
as everybody knew, the real winner with the expropriation of ypf would be repsol.
Feb 26th, 2014 - 04:11 pm - Link - Report abuse 0they will receive +/- U$S 5.000 millions plus interest = +/- U$S 10.000 millions.
of course the interest rate is huge.
the bad thing is that a good part of that debt will be paid by the next government.
so funny the ignorants that say there is not water in the loma de la lata or vaca muerta region, clearly they don´t have the slightest idea of what they are talking.
there are plenty of glaciers and lakes and meltwater to do aqueducts, “diques” or whatever is needed.
the bad thing is they will contaminate one of the largest source of water in the wolrd, as chevron did in ecuador, or barrick gold in patagonia.
so it is vital to evaluate the environmental impact, and banning several companies with calamitous records like british petrol, chevron, etc. to operate here.
hahaaha - the ill informed and unknowledgeable - all of you............. don't have a clue and clearly not working in the industry down there or you would know - only go by headlines in the newspapers - its not surprising you don't make any money and lose your ass in south america
Feb 26th, 2014 - 04:46 pm - Link - Report abuse 0the biggest revenue growth market this year in latin america and you lot are totally lost
17
Feb 26th, 2014 - 05:03 pm - Link - Report abuse 0yep, its around a 12% anual to pay Repsol per year. She is expecting a good influx of dollars after securing a deal with Repsol and if that doesnt come then she will return to the Paris Club and get debt she needs to live by the next 2 years below the 10 % digit....Or at least that is her plan
http://www.urgente24.com/224202-club-de-paris-el-plan-c-de-cristina-si-el-acuerdo-con-repsol-no-trae-dolares
18. So no link huh?
Feb 26th, 2014 - 05:09 pm - Link - Report abuse 0Not surprised
liar
20
Feb 26th, 2014 - 05:13 pm - Link - Report abuse 020
EL diego is paid to write this nonsense, what a coincidence he only comes out in YPF articles,..I'm surprised you didn't figure that out by now. So was hes other account Dany Berger who wrote on economical matters defending the gov’t
Oh I miss Dany, last year he put all of his money in Peso and claimed it was the best investment he ever made.
Feb 26th, 2014 - 05:24 pm - Link - Report abuse 0I am very very curious on how Diego could be making money on VM. How does one make money in the O/G industry if you don't find any O/G?
Paul, there are 70,000 people without water for the last 3 weeks in a town near BA! I don't think Arg can spare any $ to build aqueducts, desalination plants for oil if they can't even get water to people near their largest city!
And who the hell is “El Diego”, Do you know him, I dont?? Real people in the real world are calling for caution behind the massive propaganda machine of the gov’t.
Feb 26th, 2014 - 06:05 pm - Link - Report abuse 0Bulgheroni one of the richest men in the country is skeptical and says that so far the results are little satisfactory over the 90 wells that have being tested and that the information that other companies drilling there are providing is scarce
http://www.lapoliticaonline.com/nota/73189/
Experts say that there will be any movement in VM for at lest the next decade.
(If the oil and gas is really there that is)
http://www.lapoliticaonline.com/nota/73189/
In the end Argentina will pay a lot more than 5 bio. US$ for the much delayed Repsol compensation.
Feb 26th, 2014 - 08:08 pm - Link - Report abuse 0Economist Federico Sturzenegger said that oil and gas production fell 7%, there hasn’t been sufficient investments in the petroleum industry, Vaca Muerta is about to be vasted, YPF cannot be financed. When the government has taken over companies they expects investors to come rushing forward.
Interesting.
Feb 26th, 2014 - 08:17 pm - Link - Report abuse 0A_Worthless_Noise (calls himself A_Voice) disappears and “El Diego” pops up, making worthless noise about a non-existing car, his equipment on oil rigs making excellent returns on an investment in a development drilling program which so far hasn't drilled a single hole, ... tuuuuut! tuuuuut!
They are two peas in the same corrupt pod,.
Feb 26th, 2014 - 08:36 pm - Link - Report abuse 0There are 1000's of Canadians working in the “oil patch” down here; many of them international experts. Can't someone with access simply ask for a realistic assessment and a production timeline?
Feb 26th, 2014 - 10:56 pm - Link - Report abuse 0Hahaha - the blind leading the blind on this site - amateurs who haven't a clue whats really going on in the Argentina oil patch
Feb 27th, 2014 - 01:23 am - Link - Report abuse 0So let me state the FACTS again - YPF production up year on year - Miguel delivered on his promise, the YPF share price has more than doubled, Argentina has the biggest growth in drilling activity in all of Latin America in 2014 - key discoveries have been made and development programs are under execution -
If you don't believe it talk with someone who works in the industry - unsurprisingly you don't find that experience and knowledge with the gringo retrobates on this site who wouldn't know a market entry signal if it hit them on the head - as they tell you nothings happening the YPF share price doubles so if you want to short YPF just wait until the gringo morons here start investing - that will be the signal to get out - it's still a way off yet so watch those simplistic headlines in mercopress
@22 “Paul, there are 70,000 people without water for the last 3 weeks in a town near BA!”
Feb 27th, 2014 - 03:35 am - Link - Report abuse 0Caleta Olivia is in Santa Cruz, nowhere near Buenos Aires.
No. 28 is so typically A_Worthless_Noise (calls himself A_Voice and now also El Diego) post.
Feb 27th, 2014 - 04:10 am - Link - Report abuse 0Lots of words without the slightest substance, no to support for his stupid statements.
El Diego aka A_Worthless_Noise aka A_Voice is a Zero, also known as human trash.
28. Still no links liar?
Feb 27th, 2014 - 10:37 am - Link - Report abuse 0Unless you can start proving your outlandish statements you should go away.
Diego, YPF production was up in 2012 over 2011 but SIGNIFICANTLY lower than 2010. He's not done anything but speeded up pumps and therefore the decline in known reserves.
I 'm convinced you know absolutely nothing about the O/G business in Argentina.
In Canada, and elsewhere, it is illegal to pay bribes. Hence PNE walked away from Santa Cruz, and now the good folk who were about to give Navidad some 2500 good jobs have closed it down! Wonder why?
Feb 27th, 2014 - 12:49 pm - Link - Report abuse 0el diego
Feb 27th, 2014 - 04:03 pm - Link - Report abuse 0“Argentina has the biggest growth in drilling activity in all of Latin America in 2014 - key discoveries have been made and development programs are under execution -”
i am totally against kirchner, but nobody can deny the good job galluccio is doing.
not only for solving the mess with repsol, but also for the discovery and exploitation of 150 new conventional oil wells and most important, for the pre-agreement with petronas regarding vaca muerta.
not to mention the acquisition of apache´s assets.
my only concern are the enviromental issues with fracking practices.
“Argentina is a unique case of a country that has completed the transition to underdevelopment,” said Javier Corrales, a political scientist at Amherst College.
Feb 27th, 2014 - 06:01 pm - Link - Report abuse 0In psychological terms — and Buenos Aires is packed with folks on couches pouring out their anguish to psychotherapists — Argentina is the child among nations that never grew up. Responsibility was not its thing. Why should it be? There was so much to be plundered, such riches in grain and livestock, that solid institutions and the rule of law — let alone a functioning tax system — seemed a waste of time.
http://www.nytimes.com/2014/02/28/opinion/28iht-edcohen28.html
yankee - I am living in 2014 and not 2010 - investments and share prices are driven by forward earnings and not past earnings with previous CEOs....production is up in 2013 and will rise again in 2014
Feb 27th, 2014 - 08:03 pm - Link - Report abuse 0I will give later some more info on who is the major IOC with the discovery and starting a development campaign meantime I will just ignore the meaningless posts here from people who obviously don't know whats going on in the oilfield down in Argentina - if you did you would already know about this campaign - everybody in the oilfield already does but you guys
35. You are a liar.
Feb 27th, 2014 - 08:49 pm - Link - Report abuse 033 - agree Miguel is doing a great job with rising production and getting the strategy right and that's expressed in the share price increase - from what I understand on the environmental side Neuquen government have already set up some regulations regarding it - much more stricter than what you see in USA
Feb 28th, 2014 - 12:37 am - Link - Report abuse 0Yankee this one may take the prize with the most ridiculous posts. I thought stevie was first with titti boi tobi as runner up. ED is pushing the head of the class.
Feb 28th, 2014 - 01:07 am - Link - Report abuse 0How many wells did Miguel say they had to drill.....2000 a year for 5 years? The success is directly determined by the increase or decrease in oil imports at any given time. for Argentina....period.
I don't think either one of them can read a income or balance sheet.
Feb 28th, 2014 - 11:40 am - Link - Report abuse 0If they want to think its a rosey picture for YPF good for them.
Like stupid Dany B said last year, Pesos are the best investment.
If they think that about YPF they should buy every share they can afford
Its not a stock I'd invest in
My guess is they'll be de-listed as sson as they refuse audits.
That should happen any time now
Headline in Lanacion today... SUGAR RATIONING
I am peeing myself laughing
I told ya
Ya'll shouda listened when you had the chance
As usual - just reading and repeating headlines from politically motivated media sources - yet again more evidence if it was needed of gringo ignorance and lack of real insightperhaps innocence is a nicer word - certainly no idea of what's happening in Argentina oil and gas industry and why the market and YPF is growing and some of us are making a fortune whilst others sit on the sidelines reading internet newspapers..........Hahahahaha - LMFHO
Mar 01st, 2014 - 03:02 am - Link - Report abuse 040. Still no links?
Mar 01st, 2014 - 08:20 am - Link - Report abuse 0Liar
What........more links to unreliable Internet news sites? Is that how you form your opinions? Argentinian news papers with all the usual political baggage? Is that how you decide on where and when to invest? No wonder you are angry and frustrated with Argentina.........trying not to laugh again
Mar 01st, 2014 - 03:39 pm - Link - Report abuse 0Go look at YPF share price since Gallucio took over 2 years ago.......that's what those in the know do.........that's why the oil gas industry in Argentina is growing year on year despite what you read and believe from the Micky mouse Internet sites you trawl round - Hahahahaha - investors put money on facts not conjecture
Still haven't figured out yet who the major IOC is about to ramp up its development campaign in VM? How could you possibly know anything about the oil industry in Argentina if you don't know this - but hey I will be happy to take your money Hahahahaha - see you in Puerto Madero
Still no links
Mar 01st, 2014 - 03:58 pm - Link - Report abuse 0You are a liar
About to ramp up...
yeah okay
Don't hold your breath
loser
From a source in Madrid...
Mar 01st, 2014 - 04:04 pm - Link - Report abuse 0“Olvídese, Rocamora. A la Argentina sólo irán de visita los capitales especulativos”, confirma la Garganta de Madrid.
-No investment will be comming to Argentina only speculative ones-
En el vigente cristinismo, más Muerta que la Vaca -con la que se aspira a entusiasmar- está la credibilidad.”
-More dead than the cow is the crediblity of the country-
So I remember a spanish comment warning Argentina in the midst of its excitement of confiscating YPF, Brufau was a very cunning and witty CEO, he had the experience of dealing with 3rd dictators in Africa and Latam all his life. He is a true heavy weight of the oil and gas world. He arrieved at Tripoli at 5 am of the morning and Gaddafi would recieve him. Not even Bolivia and Venezuela dared robb Repsols assets in the fashion Argentina did.
Now the cost of paying Repsol will be for years to come, and VM is far off from paying itself. Brufau and Faine had no mercy for Argentina
CD, If you don't see massive investment in VM over the next year you won't see if for a generation.
Mar 01st, 2014 - 04:26 pm - Link - Report abuse 0Right now only Chevron is investing and they had to be blackmailed to do it. All the others are bailing.
YPF doesn't have the money, talent or equipment to do it themselves.
Argentina might as well forget about it.
45) Actually its Bulgheroni who has being forced to bring back 500MM USD for VM that is keeping it going. And he has being critical and skeptical so far of the prospects of VM. Eurnekian and Eskenazi should pay up, the same ones who robbed YPF and came into it by the pressure of Kirchner on Repsol to let them into the shareholder board YPF under unprecedented conditions in wich they would pay back Repsol with the own dividends YPF generated. Dividends increased from 26% to 142% in 2008 the year in wich they landed in YPF Repsol. Corrupt bastards
Mar 01st, 2014 - 04:43 pm - Link - Report abuse 0They estimated ( based on drilling costs in the USA) that they needed U$250B to develop VM. U$500MM is a rounding error.
Mar 01st, 2014 - 04:48 pm - Link - Report abuse 0Insignificant and frankly embarrassing.
Give it a year and see what happens
My guess is nothing will happen for a generation
47
Mar 01st, 2014 - 04:58 pm - Link - Report abuse 0I dont know for sure... Galluccio said he needed 35 or 40 billions 2 years ago, but perhaps is intention is not to develop VM but to save or at least stable YPF production with conventionals and for that he needs every single dollar or peso he can finds. Not so long ago I was offered YPF bonds in the bank fixed to the official dollar. And I dont think he is thinking in exploting VM with that.
I will never understand why they had to expropiate YPF, if it would have trully being for having a national state owned company exploiting VM they could have simply given the consession of VM to Enarsa. Wich would have being the same problems that YPF is currently having, but we wouldent have to pay up 5 billion in compensation plus 10 billion in interests.
Argentina Gas Rotary Rigs Jan 2014 10.00 -9.09%
Mar 01st, 2014 - 05:54 pm - Link - Report abuse 0Argentina Inland Rotary Rigs Jan 2014 85.00 2.41%
Argentina Miscellaneous Rotary Rigs Jan 2014 0.00
Argentina Offshore Rotary Rigs Jan 2014 58.00 3.57%
https://ycharts.com/indicators/reports/baker_hughes_international_rotary_rig_count/all
This is why I keep asking idiot Diego to prove his claims. Because I KNOW he can't.
O/G industry is well reported, everything verified, they know who is drilling what, where and when.
So for him to make wildly exaggerated claims is foolish because they are easily refuted.
He knows nothing of the o/g industry.
He said U$30.yr for 10 yrs.
Even if there's oil, there is no way to transport it or refine it. Finding it is one of the first steps.
Again you show your ignorance of the Argentine oil industry - why don't you research your comments before publishing them - Neuquen has adequate infrastructure in place - they have been producing, transporting and refining oil for years - what website did you read
Mar 01st, 2014 - 10:53 pm - Link - Report abuse 0that one on? Yankedoodlefantasy.com?
Diego why didnt the gov't give the concession of Vaca Muerta to Enarsa instead of confiscating YPF??? That is costing us 5 billion + 10 billion in interests.
Mar 01st, 2014 - 11:17 pm - Link - Report abuse 0Diego, You are as dumb as Axel, either post the links or go away.
Mar 02nd, 2014 - 12:54 pm - Link - Report abuse 0Yankee - your rig count comments only show a monthly change - look at it year on year - it goes from 50 to 85 rig s - a huge increase and the biggest growth in Latin America - suggest you read your links properly before posting them
Mar 02nd, 2014 - 01:11 pm - Link - Report abuse 0Diego, Argentina has about 150-170 rigs in country and it hasn't changed much one way or the other in a decade.
Mar 02nd, 2014 - 01:29 pm - Link - Report abuse 0You have no money to get more and no people to run them
Where's the link to the huge ramp up? Where's the link to the huge discoveries?
What can't find them?
Idiot
@ 29 MagnusMaster
Mar 02nd, 2014 - 04:54 pm - Link - Report abuse 0Caleta Olivia, in Santa Cruz is 1600Km approx from BsAs. It’s only 900 Km from Stanley in the Falklands so perhaps they can sell them a tanker full of clean water.
It would probably be quicker than relying on anybody else in The Dark Country!
I mean 70,000 people is only 0.175% of the entire population of the “country”.
And you are not one of them so we can see where your priorities are: condemning YB but no sympathy for those without water.
Great, super, no wonder the country is fucked with your attitude. I should change your tag to MagnusMinor, it’s more suitable until you grow up.
Yankee - try to read some of the links you post and take a course in chart reading and statistics then you may be able to actually understand what is really happening in Argentina oil and gas industry - its been growing for past. Opulent of years and this year will be even further - I sold 15 rigs into Argentina late last year and my IOC company preparing for the ramp up has asked for another 5 - that's way I have to laugh at all the negativity from the morons on this site - its been our best year in a long time and rewarding for my new Ferrari and the penthouse in Puerto Madero - if you like I could set up a school in Houston and give you guys a 101 for investing in South America - class # 1 will be contrarian investing and how to time market entry based on facts rather than Internet news links - perhaps you could be a case study for us on what not to do - hahaha
Mar 02nd, 2014 - 10:37 pm - Link - Report abuse 056. Yeah sure you did.
Mar 02nd, 2014 - 11:07 pm - Link - Report abuse 0No links though huh?
Retard
Why send you more links if you don't even read and understand the ones you posted - if you were in Argentina and involved in the oil and gas industry you would know what's happening there and who is increasing activity but you don't - got to Neuquen and see all those rigs working yourslelf, talk with someone in YPF or one of the big service companies and they will tell you the same things I am telling you here - but of course you won't do that because you don't know anything about the industry - stay with your Internet trawling of simplistic politically biased news sige but don't expect anybody to believe the absolute rubbish and negativity you write here unless of course your readers are from USA and probably just as uninformed about international affairs as you - Hahahahaha LMFHO
Mar 02nd, 2014 - 11:39 pm - Link - Report abuse 0Still no links?
Mar 02nd, 2014 - 11:41 pm - Link - Report abuse 0Liar
@ 48 CabezaDura2
Mar 03rd, 2014 - 12:37 am - Link - Report abuse 0“I will never understand why they had to expropiate YPF”
Cristina's revenge, hitting a previous crony, now enemy from the Eskenazi family/Peterson group.
It's as simple as that. Her whims has made the Argentine government erratic and the Argentine economy a disaster.
El Diego @56 Just as a matter of interest, what did you export to bring the rigs in ?
Mar 03rd, 2014 - 12:15 pm - Link - Report abuse 0Baker Hughes stated that there were only 20 Shale rigs in the whole of Argentina in 2013 and only plans for another 10 this year due to difficulties in importing more rigs and a lack of trained professionals. Water shortage is also a huge problem as is transportation to and from the remote locations involved. I believe the cost to drill is 3 to 4 times higher than in the USA. All this said Vaca Muerta and the other shale plays will be game changers for Argentina but at present there is little international appetite for the political and economic risks in doing business in Argentina.
PS Brazil and Colombia both have far greater oil and gas drilling activity than Argentina.
@42
Mar 03rd, 2014 - 05:16 pm - Link - Report abuse 0Are the YPF shares quoted in $US or $AR pesos, what about inflation, have you taken that into account. The last time I was in Argentina there was more oil on the the ground through badly maintained NODDING DONKEYS than was actually being sold at market. I could not believe it.
As a supplier to YPF of essential equipment to increase production we get an exemption to get around the restrictions on importing. Bit by bit we see the government has been assisting oil industry companies work around some of these problems. Of course there is a shortage of people and equipment as demand outstrips supply but thats good for as service companies are making a fortunate down there with premium prices - our profits have never been higher than now!
Mar 04th, 2014 - 02:08 am - Link - Report abuse 0Regarding rigs in Brazil and Colombia - its not the overall rig count that matters but rather the growth in rigs over past two years - that together with the premium pricing has been great for business......by the time more equipment gets in there pricing will go down and will be time to sell up -
YPF share prices are quoted in dollars so doesn't matter about what happens with the peso - this is a real indicator of business down there without any of the political bias you read here from other commentators who dont have a clue whqts really happening - business in the oil and gas industry in Argentina has never been better than now but you should have invested two years ago when everybody else was saying the complete opposite - fortune favors those who understand the region -
@63
Mar 04th, 2014 - 07:46 am - Link - Report abuse 0Your equipment is not working judging by the amount of oil being wasted. On the 23 Dec 2013 YPF shares were $US 34.17 and 68 days later it was $US 26.91 I make that a drop of 27% just about in line with inflation. As regards to shale gas, it is neccessary to use 4 million barels of water for every well ( roughly 1000 truckloads ) you would need to pipe it , perhaps from El Chocon, still a long way. Where is Argentina going to get the money.
“ bit by bit we see the government....... work around some of these problems” Sorry El Diego but those “ problems ” have existed for years and still not been solved. Why can you not admit that unless Argentina gets off its arse things are not going to change. Why has CRIS said to the teachers that they will get extra pay if they “ have perfect attendance ” it is because as a nation you are LAZY. I know that, as I worked there for many years for a major “ service company”( American of course ) Any excuse for a day off, why so many “celebration days ?” I see Maduro has extended the “ holiday ” by 2 days. I don't like generalisation but in this case I will make an exception. Most of Latam countries are lazy. Oh, and of course avoid if possible paying tax, part of the culture is it not?
Deigo, Still no links, liar? Where oh where did YOU buy these imaginary rigs? You do know its news right?
Mar 04th, 2014 - 05:48 pm - Link - Report abuse 0Easily verifiable, yet you can't give us any links
Is that because you are a liar?
Yeah, yeah it is.
yankee - if you cant read and understand simple statistics from your own links then its going to be difficult for me to post new ones that you will believe - regardless -- if you knew anything about the Argentinian oilfield you would know whats happening down there and not writing all the negative lies and assumptions you spout here - as regards the rigs we brought into Argentina - we had them built in china and thanks to cristina we got the chinese banks to finance the deal - business has never been so so good in argentina oil patch -$$$$$$$
Mar 04th, 2014 - 06:48 pm - Link - Report abuse 0@ 65 yankeeboy
Mar 04th, 2014 - 08:00 pm - Link - Report abuse 0it is not surprising that “Diego” is unable to provide links.
He is identical to A_Worthless_Noise (calls himself A_Voice), a proven liar and dishonest debater. When challenged he only spouts Worthless_Noise as can be seen in #66. He always shows himself to be a loser.
Diego, Even China posts sales of that magnitude. It is news. Yes nary a post from YPF or the Chinese supplier.
Mar 04th, 2014 - 08:09 pm - Link - Report abuse 0Gee I wonder why
Is it because you are a liar
Yes, yes it is.
tell you what guys I invite you to come and see the rigs drilling here with your own eyes here in Neuquen at a time of your choosing so you can get an education in whats REALLY happening in the oilfield down here - I will take you to see the major IOC who is planning ththe ramp up in activity - no more trawling round the internet for speculative stories - come and see it for yoursleves - have you got the balls to do that? Are you even in Argentina which I doubt.................
Mar 04th, 2014 - 10:13 pm - Link - Report abuse 0No links though huh?
Mar 04th, 2014 - 10:42 pm - Link - Report abuse 0Liar
Hahaha - not even in the country and not in the industry - now I understand the ignorance about all things in Argentina - probably went there once on vacation or went to see an Evita concert in USA somewhere .....yankee doodle unmasked - hahaha
Mar 05th, 2014 - 12:34 am - Link - Report abuse 0Dego, Why is it when stupid Rgs lose a debate they try to attack? So because YOU can't provide any links to wildly outrageous lies, I never lived in Argentina, is that how it works in your feeble mind?
Mar 05th, 2014 - 01:57 am - Link - Report abuse 0You are a fool and a liar.
Its no wonder everyone in the civilized world thinks Rgs are dimwitted.
Hahahahaha - yes of course we are all dimwitted down here - for sure we are culturally backward even an inferior race of people - we live in the uncivilized part of the world and we are not as civilized as North Americans and therefore are less intelligent people.........what can I say - thank god we have North America and North Americans to save the world and us - hahahahahahah
Mar 05th, 2014 - 02:50 am - Link - Report abuse 0Yes, all of that and more.
Mar 05th, 2014 - 11:30 am - Link - Report abuse 0Still no links liar?
yankee #73 is the most sensible post of a troll thus far.!!
Mar 05th, 2014 - 06:08 pm - Link - Report abuse 0Cap, It was his only truthful one.
Mar 05th, 2014 - 06:16 pm - Link - Report abuse 0Commenting for this story is now closed.
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