YPF Makes Gas Discovery In Western Argentina

Posted by Joseph R. Fonseca
Sunday, June 01, 2014

 

Argentina state oil producer YPF said on Sunday it had made a discovery of 'tight gas' in the western Argentine province of Mendoza.

The find by the Paso de las Bardas Norte xp-37 exploration well has a potential 25 million barrels equivalent of recoverable resources, the company said in a statement. There was also "important potential" for oil, it added.

Tight gas is a type of hydrocarbon found in reservoirs formed by rocks of low permeability.

Gas production infrastructure is already in place in the area, allowing for immediate production, said YPF.

YPF, which was nationalized in 2012, saw its production of hydrocarbons jump last year, thanks in part to its vast Patagonian shale oil and gas formation Vaca Muerta.

A U.S. Department of Energy report has shown that Argentina has more natural gas trapped in shale rock than all of Europe, a 774-trillion-cubic-feet bounty that could transform the outlook for Western Hemisphere supply.

(Reporting by Maximiliano Rizzi, Writing by Rosalba O'Brien; Editing by Marguerita Choy)

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1169 sec (9 req/sec)