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YPF to Exit Aging Argentine Oil Fields to Free $800 Million for Vaca Muerta Shale Push
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The oil company YPF, controlled by the Argentine State, has bought the company Tecpetrol, of the Techint group, a 15% share in the Loma Campana-Lago Pellegrini pipeline (CLP). According to both companies in notes sent to the markets of Argentina, the operation amounts to 15 million dollars. The oil company YPF already owned 85% of the pipeline, so it will become owner of the entire CLP stock package. The pipeline for YPF The oil pipeline has as …
Neuquén is the main producer of hydrocarbons in the country and has managed to position itself as the fifth largest province in Argentina. Its revenues are tied to the royalties and tax effect generated by the industry at the provincial level: together, these concepts represent more than 68% of the neuquin revenues. Therefore, a decrease in them activates the alerts of the Ministry of Economy, Production and Industry and obliges to review perman…
YPF to exit aging Argentine oil fields to free $800 million for Vaca Muerta shale push
YPF will add three more drilling rigs in the Vaca Muerta this year as it narrows its focus on the shale patch in a bid to spur a 24% year-on-year jump in shale oil production, Marin said. YPF’s shale oil output last year was almost 100,000 bpd.
As disbursements grow in non-conventional deposits, conventional production continues to decline and drags down the total level of investments planned for this year.
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