YPF announces new shale oil find in Neuquen-Mendoza area

Friday, August 15th 2014 - 02:24 UTC

Full article 6 comments

Argentine state-controlled energy company YPF on Thursday announced a shale oil find in the southwestern province of Neuquen in Patagonia. The discovery was made at the Agrio formation, according to CEO Miguel Galuccio, who said at a press conference that production operations will be carried from the neighboring province of Mendoza. Read full article

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Jay Bee
Just like with the oil discovery in the Falklands, I'll believe it when successful production commences. $1.5B in the bank? That doesn't sound like very much to me. Does anyone know if they have investors lined up? The article doesn't say they do so I guess not yet.
Aug 15th, 2014 - 06:44 am - Link - Report abuse 0
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golfcronie
@1
$1.5 billion that is peanuts. Remember REPSOL, hardly likely that any western companies are going to invest, just look at the Argentine economy, just about keeping their head above water.
Aug 15th, 2014 - 07:36 am - Link - Report abuse 0
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yankeeboy
It is awfully convenient that they have “good” news just when they really need it. I think it may be against SEC regs to announce a huge well when they've done no testing.
Slight little problem, they don't have much refining capabilities and pretty soon Singer is going to start going after these external shipments.
Watch and see
Aug 15th, 2014 - 10:13 am - Link - Report abuse 0
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Pete Bog
Yet another find-no need to whinge about Falklands oil then, if you have plenty of your own.
Aug 15th, 2014 - 10:45 am - Link - Report abuse 0
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chronic
Miguel, I would trust you only if I saw you cut and pull the core and I was witness to the analysis - nah - I still would trust you. You/YPF simply aren't credible. Do you think Schlumberger will want you back? Not!
Aug 15th, 2014 - 04:10 pm - Link - Report abuse 0
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ChrisR
@ 5 chronic

It was clear to me from the beginning that Schlumberger were keen to get rid of him, otherwise he would never have left and they would simply have out bid TMBOA offer.

He has been a lamentable failure at the real job of running the company and fending away the claws of The Bitch when some ‘news’ such as this is needed.

He was there until 02.00 hours! I bet he thinks that impresses oil workers: yeah, I’m impressed NOT.

No doubt the morons who allegedly continue to ‘support’ TMBOA will be wetting themselves in anticipation of even more handouts on the back of this nonsense.
Aug 15th, 2014 - 08:06 pm - Link - Report abuse 0
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