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Chevron, YPF Sign Agreements; Will Bolster Vaca Muerta Spending
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Chevron Corporation has confirmed that subsidiaries of the company have signed agreements with the Argentine oil company YPF S.A. to continue development of shale oil and gas resources from the Vaca Muerta formation located in the Neuquén province in Argentina.
George Kirkland, vice chairman of Chevron Corporation, commented: "This is a significant step in our subsidiaries’ joint efforts with YPF to develop one of the most exciting shale plays in the world today. Vaca Muerta could become an important contributor to Chevron’s long term production growth."
The agreements build off the progress made with the drilling program begun in 2013 and call for continued investment toward large-scale drilling and production in the 96,000-acre (388-sq. km) Loma Campana concession. The agreements also…
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