Chevron: Argentina "won lottery" with Vaca Muerta shale

Source: Bloomberg
By: Hugh Bronstein

05.22.2014

Argentina has won the "geological lottery" with its 1,000-foot-thick Vaca Muerta shale oil and gas field in Patagonia, a spokesman for Chevron said on Thursday, as the U.S. energy giant increases its investments in the country.

The company and state-owned oil firm YPF announced plans last month to invest an additional $1.6 billion to develop Vaca Muerta.

Some studies indicate Argentina is sitting atop a shale bounty that could transform the outlook for the Western Hemisphere's supply and secure the South American country's energy self-sufficiency for decades.

Asked what was the key reason behind Chevron's decision to increase its investment in Vaca Muerta, Chevron spokesman Kent Robertson answered: "We like the rock. That's first and foremost. Drilling costs are coming down and the well results so far were sufficient to warrant additional investment."

External Link: CLICK HERE FOR FULL ARTICLE.

Algodon Mansion
Algodon Wine Estates
Algodon Group
Chateau
  • Relais & Châteaux
  • Château de Messey
  • Wine Chateau
  • The Daily Meal
  • Schiahorn AG
  • Condor Wines
  • The Wine Advocate
  • Decanter
  • Marcelo Pelleriti Wines
  • Wines of Argentina
  • VINUS 2014 (wine)
  • WAWWJ 2014 (Wine)
  • Vinandino 2013 (Wine)
  • VII Concurso Internacional de Vinhos do Brasil (Wine)
  • Mediterranean International Wine & Spirits Challenge (Wine)
  • 2013 International Wine & Spirit Competition (Wine)
  • 2013 Vinalies Internationales Paris d'or (Wine)
  • VINUS 2013 (wine)
  • International Wine Challenge U.K.
  • Finger Lakes International Wine Competition (Wine)