• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 1 min Which type of Hegemony will China follow
  • 17 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 5 hours China gets caught?
  • 7 hours Demand for Diesel vs. Oil
  • 20 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 3 hours Us Shale: Moving the US shale revolution forward
  • 2 days Here is Why People Lose Money Trading Natural Gas
  • 21 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 1 day Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 days Let’s take a Historical walk around the Rig
  • 2 days US Shale: Technology
  • 2 days Governments that wasted massive windfalls
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Argentina Pulling Ahead In The Race To Be The World’s Next Shale Hotspot

Billions of dollars are riding on the race for international shale production -- and the competition has been coming down to Australia and Argentina the last several months.

And Argentina just got a big boost.

The country's state-run oil and gas firm YPF told local press late last week that it is making substantial progress on unconventional production. With the company noting that its output from shale leaped 7 percent during the third quarter -- equating to a rise of 2,900 barrels of oil equivalent per day, to a total output of 46,200 boe/d from unconventional sources.

That's an encouraging performance and it looks like the coming months could bring even more good news for Argentina's emerging shale industry. Related: Global Rig Count Continues Steady Decline

YPF said it has just completed two wells targeting a completely new shale field called La Ribera -- a step out from the company's existing projects in the Vaca Muerta play of Argentina's western region.

If successful, the La Ribera play could add substantially to output and reserves already coming from YPF's established unconventional fields which include joint ventures with major international players such as Chevron and Petronas.

YPF also noted that another of its shale joint ventures -- with natural gas end-user Dow Chemical -- is also set for a significant rise in output. With production from this play expected to top 1 million cubic meters per day (35.3 MMcf/d) by the end of 2015. Related: Energy Storage Could Become The Hottest Market In Energy

All of this development is being supported by a reformed natural gas pricing system in Argentina -- which pays better rates for production from unconventional fields. In fact, YPF's management noted they are doing everything they can to shift production toward natgas and away from oil -- completely the reverse of the situation in North America the last several years.

Reports also suggested that YPF is continuing to look for new 50/50 partners on shale projects. Watch for new deals being struck here, as a gauge of whether Argentina is indeed pulling ahead in the race for the world's next big shale profits.

Here's to a new generation,

Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play