Bloomberg News

Repsol Unit May Double Argentina Shale Reserves, FT Reports

December 14, 2011

Dec. 13 (Bloomberg) -- Repsol YPF SA’s Argentina unit said a three-well drilling program may double its unconventional oil and gas reserves in the country, the Financial Times reported, citing Tomas Garcia Blanco, the executive director for upstream.

The wells are being drilled in a 500 square-kilometer (193 square miles) area north of YPF’s Vaca Muerta shale discovery, which the company says holds recoverable resources of 927 million barrels of oil equivalent. Two of the three new wells are producing and indicate the new find may hold the same size reserves as Vaca Muerta, Blanco told the FT.

--Editors: Alexander Kwiatkowski, Aaron Sheldrick

To contact the reporter on this story: Ramsey Al-Rikabi in Singapore at ralrikabi@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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