Argentine provinces said to unite against YPF license bid


Governors of the three provinces holding Argentina’s huge Vaca Muerta shale oil reserves say they will jointly challenge a push by state-owned YPF (YPF -1.2%) to take control of the auction and renewal of licenses.

The fight highlights political tensions caused by unclear rules governing Argentina’s budding shale boom; for prospective license holders, a single federal system would remove the need to negotiate with two levels of government.

YPF owns ~37% of Vaca Muerta concession areas, most of which are coming up for renewal in the next few years; the Argentine government has invited foreign companies including Chevron to help YPF’s shale exploration efforts.

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Comments (3)
  • smurf
    , contributor
    Comments (6271) | Send Message
     
    Yeah, "government has invited CVX in........."

     

    CVX should walk, no run away from that offer!
    16 May 2014, 03:41 PM Reply Like
  • BAHAMAS1
    , contributor
    Comments (5156) | Send Message
     
    Note to CVX: Turn down the invitation !

     

    Let the Argentines fend for themselves.
    They will soon learn they don't have any expertise and the NEED for CVX, etc. will have to be paid for and contracts written in granite where these contracts can hold up under any laws and international arbitration.

     

    NO MORE ecuador corruption situations !
    16 May 2014, 04:49 PM Reply Like
  • jurkojc
    , contributor
    Comments (203) | Send Message
     
    Run away. I am invested with a small exploration Co. We have seen nothing but delays due to local, provincial and corporate corruption (my opinion, although Co will not confirm because of further delays/sanctions, etc) have gone from Qtrly to Monthly and now nothing. We cannot find any progress. Dead. Avoid anything to do with Argentina.
    17 May 2014, 10:21 AM Reply Like
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