From Bloomberg Argentine shale formation sees first crude and LNG shipments, drillers still face many infrastructure, political challenges Along the western edge of Argentina’s Patagonia, on an arid steppe nestled against the Andes mountains, lies a shale formation known as the Vaca Muerta. And ever since engineers confirmed what an American geologist suspected a century ago — that the Vaca
ExxonMobil to proceed with long-term development, two-phase attack in South American shale play Tuesday morning, ExxonMobil (stock ticker: XOM) announced its plans to proceed with the long-term development of its assets in the Vaca Muerta basin in Argentina’s Bajo del Choique-La Invernada block. The project is to include 90 wells, a central production facility, and export infrastructure connected to the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Italian supermajor will have 80% stake Argentinian authorities awarded an Eni-led consortium the exploration license for block MLO 124, located approximately 100 kilometers off the coast of Tierra del Fuego in the Malvinas Basin. Block MLO 124 encompasses an area of 4,418 square kilometers, in water with depths ranging from
Gas sourced from Vaca Muerta From Bloomberg Singapore/Gulf Times Argentina is offering its first-ever liquefied natural gas cargo, putting the nation on the verge of becoming a regular exporter of the fuel. YPF SA, the state-run oil and gas producer, is seeking to sell a partial cargo from the Tango floating liquefaction unit, or FLNG, at Bahia Blanca, according to
From Bloomberg Vista Oil & Gas is breathing a new kind of life into Vaca Muerta, the vast shale play under development in Argentina. Eight years ago, the region was untapped. Then YPF SA, the state-run driller, broke ground, offering the first peek at the basin’s potential. Now, Vista, an independent driller led by former YPF CEO Miguel Galuccio, is planning the
Failure to achieve energy plan likely From IEEFA The Argentine government’s plan to develop the massive Vaca Muerta oil and gas reserves in northern Patagonia has hit a major obstacle. The success of the plan requires the Argentine government to subsidize most of the development costs initially. But the Argentine government is in fiscal distress and has recently made it
Shell Argentina invests to increase shale output after selling downstream assets
Latin America-based GeoPark Limited (stock ticker: GPRK) has been extending its reserves and announced plans to buy back shares in 2019. Last month, GeoPark increased its equity interest to 100% in its Colombian and Chilean businesses, blocks, and reserves, including the Llanos 34 block (GeoPark operated, 45% WI) in Colombia. In doing so, GeoPark acquired and closed on LG InternationaI’s
Calgary-based Calfrac Well Services Ltd. (stock ticker: CFW) provided details today on its 2019 capital program: Approximately $149 million will be spent, including $126 million of maintenance capital $11 million of refurbishment capital and $12 million related to corporate initiatives Approximately $10 million that is remaining from Calfrac’s 2018 capital program is expected to be spent in 2019 Fernando Aguilar, Calfrac’s president and CEO, said that more than 80% of the
From Reuters BUENOS AIRES (Reuters) – Argentina relaunched a one-year-old agreement between the government, companies and workers on Tuesday to drive competition and spur development in the Vaca Muerta shale play, the government said in a statement. Argentina’s President Mauricio Macri walks during his visit to the Loma Campana Vaca Muerta shale oil and gas drilling site, owned by Argentina’s
Latin American E&P operator GeoPark Limited (ticker: GPRK) released a production update today, noting that current production is currently at 35 MBOEPD. This figure includes production from the recent Argentina acquisition. Oil production increased by 33% to 27,345 BOPD (up 8% compared to Q4 2017) Colombian oil production increased by 37% to 26,303 BOPD (up 8% compared to Q4 2017)
Eco-Stim Energy Solutions, Inc. (ticker: ESES) reported a net loss of $26.9 million, or $(0.41) per basic and diluted share for the full year of 2017. For Q4 2017, EcoStim reported a net loss of $9.1 million, or $(0.12) per basic and diluted share. Total capital expenditures during the fourth quarter of 2017 were approximately $10.7 million, compared to $16.9
