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Repsol’s huge shale oil haul in Argentina

Huge unconventional oil and gas resources and a welcome review of energy subsidies could herald a surge of much needed exploration investment in Argentina

REPSOL'S discovery of almost 1 billion barrels of unconventional hydrocarbons in Argentina’s Neuquén basin is welcome for a country hoping to boost investment in its energy sector. The discovery almost doubles Repsol’s reserves base and boosts Argentina’s oil resources by 40%. And there is probably much more to come. YPF, Repsol’s local subsidiary, found recoverable resources of 927 million barrels of oil equivalent (boe) – 80% oil – in a 428 square km area in the Loma La Lata Norte formation. Fifteen vertical wells in the Vaca Muerta area produced an initial 5,000 barrels a day (b/d) of high-quality 40-45°API shale oil. The company’s Vaca Muerta concession covers 12,000 square km of the 3

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