Exploration & Production | Top Story | Government Bids
Argentina Opens New Round of Bids for Vaca Muerta
Print
|
According to a report from Reuters, Argentina's Neuquen Province is expecting bids in a May Auction of its 11 oil blocks.
These oil blocks are in the Neuquen basin's Vaca Muerta shale formation, one of the largest shale deposits in the world.
The Neuquen Energy Minister Guillermo Coco said that he expects the unconventional resource to be competed for by major international companies such as Chevron, Exxon, and Shell.
Participation in the blocks requires forming a JV with the Neuquen state oil company, on a 50 to 90 percent basis contingent on the resource size.
Chevron has been the most active company in the Vaca Muerta to date, partnering with YPF.
The Neuquen basin's crude output in 2013 was 224,000 bpd, and gas was 2.2 Bcfpd. The crude produced from the fields will be required to be…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Government Bids News
Iraq Energy Cabinet, Schlumberger Ink $480MM Well Deal
Iraq's energy cabinet has awarded Schlumberger Ltd. a drilling contract worth ~$480 million, according to multiple reports. The agreement features the drilling of 96 oil wells in the…
W&T Offshore High Bidder on GOM Lease; Updates Credit Facility, Hedges
W&T Offshore, Inc. has provided an update regarding several matters including the consolidation of its two Alabama natural gas treatment facilities, the awarding of two blocks from the…
W&T Offshore Submits Winning Bid on Two Shallow GOM Blocks
W&T Offshore, Inc. has been named the high bidder on two blocks in the Gulf of Mexico Lease Sale 256 held by the Bureau of Ocean Energy Management…
Talos Wins GOM Exploration Blocks in Latest Bid Round; 11,520 Gross Acres
Talos Energy Inc. has been awarded two GOM deepwater blocks in the recent Outer Continental Shelf Federal Lease Sale 256, held on November 18, 2020. Properties that Talos…
Australia Opens 2020 Bid Round for New Offshore Permits
The Commonwealth of Australia has opened up its 2020 bidding round for offshore acreage. Per the country's official government website, companies will have the opportunity to bid on…
Latin America News
Frontera Energy's Colombian Assets: A Contested Acquisition Emerges in Latin America's E&P Sector
Background Frontera Energy Corporation (TSX: FEC), a publicly listed Canadian holding company with upstream oil and gas operations in Colombia, has become the center of a contested acquisition…
Chevron, Quantum prepare joint bid for Lukoil’s international assets
Chevron and private equity firm Quantum Energy Partners are preparing a joint bid for the international assets of Russian oil major Lukoil, a package estimated to be worth…
Venezuela: Rebuild Potential vs. Stop/Start Reality — What It Means for International OFS
Venezuela: Rebuild Potential vs. Stop/Start Reality — What It Means for International OFS According to Reuters, Venezuela’s oil sector remains a high-potential but fragile opportunity: it holds massive…
Gran Tierra Energy To Step Down Activity in 2026
Gran Tierra Energy’s 2026 development plan reflects a step-down in spending and activity as the company transitions from fulfilling Ecuador exploration commitments in 2025 toward a free-cash-flow-focused program.…
Parex Advances Llanos Foothills Exploration Alliance with Ecopetrol
Parex and strategic partner Ecopetrol provided an update on their Llanos Foothills exploration program, noting that a full strategic alliance has effectively been achieved and that key Foothills…
South America News
Continental Resources to Acquire 90% Stake in Vaca Muerta Shale Concession
Continental Resources Inc. has agreed to acquire a 90% operating stake in the Los Toldos II Oeste block, a shale concession within Argentina’s Vaca Muerta formation, marking a…
Vaca Muerta 2025–2026: Acceleration, Optimization, and Strategic Impact
Vaca Muerta, Argentina’s premier shale play, is undergoing a major transformation under YPF’s aggressive growth strategy. As presented during YPF’s 2025 Investor Day, the next two years (2025–2026)…
Argentina/Vaca Muerta Developers to Double Well Activity; Increase Frac Fleets
YPF has set some ambitious goals to grow oil production to ~500mbo/d by 2030. To accomplish this the company plans to almost double well count in '26 from…
Hess Corporation First Quarter 2023 Results
Hess Corp. announced its first quarter 2023 results. Highlights Net income was $346 million, or $1.13 per share, compared with net income of $417 million, or $1.34 per…
Shell Fourth Quarter, Full Year 2022 Results
Shell plc reported its fourth quarter and full year 2022 results. Chief Executive Officer, Wael Sawan commented: "Our results in Q4 and across the full year demonstrate the…