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YPF says it probably will sign next month a definitive deal to explore and develop shale deposits in the Vaca Muerta formation with a group including China's Cnooc (NYSE:CEO), either as part of its Bridas Corp. JV or with Bridas-run Pan American Energy.
- An agreement with Cnooc and Bridas would be YPF’s second binding shale partnership in the 16 months since Argentina seized control of YPF from Repsol; Chevron (NYSE:CVX) signed the first YPF shale deal last month.
- Once an arrangement with Cnooc and Bridas is in place, YPF says it will work on Vaca Muerta partnerships with Dow Chemical (DOW) and others.