Tag: Vaca Muerta

• Thursday, July 20th 2017 - 09:54 UTC

  Top oil companies plan to invest US$ 1.15bn in Patagonia's shale formation

  

  BP unit and subsidiaries of France’s Total and Germany’s Wintershall have signed an investment agreement with Argentina’s state-run oil company YPF to jointly invest US$1.15 billion in the Vaca Muerta shale formation in Argentina.

• Wednesday, July 12th 2017 - 04:21 UTC

  Oil and gas production in Argentina has fallen to its lowest in 25 years

  

  Oil and gas production in Argentina has fallen to 1981 levels, the lowest in 25 years, despite a $14 million government subsidy for the first five months of this year. From last year to May 2017, the country has produced 2,311,736 m3 of oil and just under 3.8 billion m3 of gas, which shows a drop of 6% and 1.8% respectively.

• Thursday, May 18th 2017 - 17:36 UTC

  YPF targets US$ 10 cost per barrel at Vaca Muerta shale deposits, by end of 2018

  

  Argentina's oil corporation YPF plans to match United States costs in developing non conventional energy, by the end of 2018. This refers to the very rich shale deposits of Vaca Muerta, with a target of 10 dollars per barrel and for this purpose it has started a program of experimental drillings.

• Saturday, April 22nd 2017 - 09:15 UTC

  ExxonMobil betting heavily in developing Argentina's Vaca Muerta shale gas

  

  ExxonMobil is planning to speed up investment plans for shale gas drilling in Argentina’s prized Vaca Muerta formation in the Neuquen province. Exxon will start drilling Vaca Muerta in May, by drilling horizontal wells with laterals of 2,500-3,000 meters, Neuquen province governor Omar Gutierrez said this week.

• Saturday, March 25th 2017 - 09:29 UTC

  Argentina closer to energy self sufficiency: US$ 2.3bn investment in Vaca Muerta shale fields

  

  Argentina's Tecpetrol, part of the Techint Group, said on Thursday it would invest US$2.3 billion in the Vaca Muerta shale fields through 2019, the largest announcement in the formation in years. Tecpetrol said in a statement the investment was made possibly due to measures from President Mauricio Macri's government, including a deal with labor unions earlier this year and a definition of price supports this month.

• Sunday, February 26th 2017 - 11:21 UTC

  YPF and Shell reach deal to develop oil and gas assets in Vaca Muerta shale field

  

  Argentina's state-run oil company YPF said it reached a preliminary deal with Royal Dutch Shell Plc to develop oil and gas assets in the Vaca Muerta shale field, involving a US$300 million investment from Shell.

• Wednesday, January 11th 2017 - 08:29 UTC

  Macri announces program to boost development of Vaca Muerta shale formation

  

  Argentina's government has agreed to extend a natural gas wellhead price subsidy until 2020 and reduce labor costs in a bid to jumpstart investment in the Vaca Muerta shale formation. The agreement, reached between the national government, the provincial government of Neuquen, industry and labor unions, comes at a time of lackluster upstream activity, reflecting an uncertain price environment and cost concerns.

• Tuesday, June 7th 2016 - 09:04 UTC

  Ex Total top engineer named Argentina's YPF CEO

  

  Argentina's state oil company YPF said on Monday it has named Ricardo Darre chief executive officer, as the company makes leadership changes under the new pro-business government.

• Thursday, May 26th 2016 - 06:05 UTC

  Argentina confident Patagonia's shale formation foreign interest remains strong

  

  Argentina's Vaca Muerta shale formation in Patagonia remains an attractive asset for international investors, many of which are looking to increase the amount they have invested so far, according to the country's Energy Minister Juan José Aranguren, a former Shell Argentina CEO.

• Monday, March 7th 2016 - 05:12 UTC

  Argentina's YPF planning to cut capital expenditure by at least 20/25%

  

  Argentina's state-controlled energy company YPF will cut capital expenditure by at least 20-25% this year to mitigate the impact of the global oil price rout — leading to growing concerns among union leaders, who claim up to 2,000 workers would be laid off because of the company’s decision.