Election Results October 22, 2015 election results were unexpected and forced a run- off election in November. Status quo candidate (Scioli) was expected to win Status quo candidate had campaigned on maintaining oil and gas…
Uncertainty Created by Election Process Market Concerns Will oil prices remain at 77/BBL If oil prices are adjusted, how far downward Will YPF CEO (Gullucio) remain in that position If not, who stays and who goes within YPF What…
Policy Changes Already Implemented Appointment of perceived energy expert (former Shell executive) to the Minister of Energy position Reduced oil price from 77 to 67.50 for light sweet crude Devalued currency by 40% and removal of…
Argentina Seeks to End Dispute With Creditors We are ready to bring the matter to a close and negotiate a solution, I hope we can rapidly leave this issue behind because it limits our ability to grow. Mauricio Macri (January 12,…
Review of Past Business and New Contract Opportunities Contracts in place with Medanito and Oil Stone but low activity due to capital constraints Most 2015 YPF work executed on protocol basis no contract Much of the work with YPF in…
New Customer Opportunities Currently Being Discussed to Deploy New Capacity Customer Name Timing of start Type of Work Volume of Work YPF new districts Q2 - 2016 Well Stim & CT High Madalena Resources Q2 - 2016 Well Stim Medium…
2016 Argentina Shale Developments Audrey McClendons American Energy Partners signed an agreement with YPF for 500M over next 3 years Financial Times Petronas to drill 900 wells in Argentina; 35 horizontal wells in 2016 - Upstream…
Equipment Deliveries, Timing and Importation Process Description Number Expected Supplier of Units Delivery Date 2500 HHP Frac Pumps 3 Delivered QM Equipment 2500 HHP Frac Pumps 2 Q1 2016 QM Equipment 48ft Data Van & Laboratory 1 Q1…
Advantages of Turbine Powered Pumping Units Only pumping unit in the world capable of: running on 100% natural gas running on multiple fuel sources including natural gas, CNG, LNG and Diesel delivering emissions 65% below EPA Tier 4…
Upgrades and Modifications Made To Address Certain Inefficiencies Observed During Previous Operations Description of previous Modification or alteration under way Status of operational inefficiency or area of modification or concern…
Baker Hughes Rig Count For Argentina Through December Shows Decline In Activity In Late 2015 ARGENTINA RIG COUNT 120 110 100 90 80 14-Mar 14-Jun 14-Sep 14-Dec 15-Mar 15-Jun 15-Sep 15-Dec Page 13
Uncertainty Around Oil Price Caused A Slow Down In Q4 As Illustrated In This article Dated December 4, 2015 YPF put on standby 10% of their drilling rigs as part of a vacation plan Nicolas Gandini Four weeks following the expiration…
Labor Unions Upset With Idled Rigs. This Started In November In Some Regions But Activity Set To Resume Mid-January Avila: The 46 teams unemployed have to return to activity on January 10 By Editorial Team The Online Investor The…
2016 Outlook And Preliminary Q4 2015 Results Given uncertainty & visibility limitations we believe it is impractical at this time to provide forward guidance for 2016 with a high degree of confidence Q4 activity levels were about…
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