Thursday, December 14, 2017

Schlumberger, YPF to Invest $390 Mln in Vaca Muerta

Posted by April 12, 2017

Argentina's state-run oil company YPF SA (YPF) and Schlumberger AG, the world's top oil services provider, have reached a deal to invest $390 million in the Vaca Muerta shale field in Patagonia, YPF said on Wednesday.
In a letter to the Buenos Aires stock exchange, YPF said a division of Schlumberger would invest the full amount and obtain a 49 percent stake in the 228.5 square kilometer (88.22 square miles) Bandurria Sur concession, where the two companies would develop a two-phase shale oil pilot project.

(Reporting by Luc Cohen)

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