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YPF gets 35-year extension to develop Argentina gas block

Aug. 02, 2017 4:21 PM ETYPF Sociedad Anónima (YPF) StockYPFBy: Carl Surran, SA News Editor
  • Argentina's YPF state oil company and Pampa Energía agree to invest $150M for a 35-year extension to develop the unconventional Rincon del Mangrullo block in Neuquen province.
  • The pair say they plan to drill 13 horizontal wells to "investigate the potential of the Vaca Muerta and Las Lajas formations and continue developing tight gas in the Mulichinco," as only vertical wells previously have been drilled in the tract.
  • The companies say the objective will be to further develop the tight gas Mulichinco formation and explore the potential in the tight gas Las Lajas and shale gas Vaca Muerta formations; the formation is forecast to have 1.3M cm/day in production by 2027.

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