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YPF Readies Argentina for Massive Vaca Muerta Shale Development
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After a sequence of events, YPF is now ready to ramp up drilling operations in the Vaca Muerta play onshore Argentina.
On Feb 25, Reuters reported that Repsol agreed to a $5 billion settlement with Argentina over YPF. Read more here
On March 5, YPF signed a $1.2 billon contract with Helmerich & Payne to supply rigs for its planned development of the Vaca Muerta play. Read more
The company is pledging to invest up to $37 billion through 2018 and is seeking partners to develop the Vaca Muerta play. The play is said to contain 27 billion BOE, which is the worlds fourth largest deposit. The company is currently running 19 rigs in its joint venture area with Chevron.
The first rig is expected to start operating during the fourth quarter of 2014, according to Helmerich & Payne, the largest…
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