Dow Jones: YPF, Dow Chemical to invest up to $500M in Argentina shale

|About: YPF Sociedad Anónima (YPF)|By:, SA News Editor

Argentina's state-run YPF (YPF +5.3%) oil company and the local unit of Dow Chemical (DOW -0.5%) plan to invest $400M-$500M to explore for shale gas, Dow Jones reports.

The companies already are involved in a joint venture which is the leading shale gas project of its kind in Argentina, with production of ~750K cm/day; the aim would be to nearly triple that amount next year to ~2M cm/day.

The deal would mark the first significant foreign investment in Argentina since newly elected Pres. Macri took office last week.

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