• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 7 mins EU has already lost the Trump vs. EU Trade War
  • 1 hour Judge Orders Trump To Release Tax Returns
  • 4 hours Does .001 of Atmosphere Control Earth's Climate?!
  • 6 mins Err ... but Trump ...? #Eggbox
  • 3 hours China's Renewables Boom Hits the Wall
  • 3 hours Offshore SE Asia: Offshore OFS Could Get Major Boost in SE Asia
  • 1 hour The lies and follies of the "cry wolf" enviros: No more fire in the kitchen: Cities are banning natural gas in homes to save the planet
  • 3 hours Saudi Aramco IPO Will Not Save Kingdom
  • 5 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 17 hours CHK Trading @ 90 Cents
  • 17 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
Alt Text

The One Factor Driving Today’s Oil Markets

The trade war appears to…

Alt Text

Bullish Catalysts For Oil Aren’t Convincing Enough

Bullish Catalysts For Oil Aren’t…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Shale Oil and Natural Gas Resources to be Developed in Argentina

Exxon Mobil Corp, the largest U.S. oil company, will spend up to $76.3 million to explore and develop shale oil and natural gas in Argentina’s Neuquén basin in collaboration with Canadian Calgary-based Americas Petrogas Inc.

Americas Petrogas told reporters that ExxonMobil has signed a subcontracting agreement for 255 square miles of exploration blocks in Los Toldos, in the western region of the Neuquén Basin.

According to Exxon spokesman Patrick McGinn, the Irving, Texas-based company will have more than 310,000 net acres in the Neuquén Basin as a result of its contract with Americas Petrogas.

Guimar Vaca Coca, managing director for Americas Petrogas in Argentina said, “We believe the next major shale development outside of North America will be in the Neuquén Basin,” El Cronista newspaper reported.

Americas Petrogas plans to drill a well in the fourth quarter at its blocs in the Neuquén basin, focusing on the Vaca Muerta formation. The U.S. Energy Information Administration estimates that the Vaca Muerta formation could hold as much as 240 trillion cubic feet of recoverable natural gas. According to Americas Petrogas, Vaca Muerta has geological characteristics similar to reservoirs such as the Eagle Ford and Haynesville formations in North America.

By. Charles Kennedy, Deputy Editor 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