Bloomberg News

Repsol Comments on YPF Shale Finds Before Govt Nationalization

July 26, 2012

YPF SA (YPFD), Argentina’s largest energy company, discovered a shale oil reservoir in Santa Cruz province and a shale gas discovery before the government nationalized the company, according to former controller Repsol SA.

YPF found shale oil after drilling two wells in the D129 area in Santa Cruz province, Kristian Rix, a spokesman for Repsol said today in a telephone interview from Madrid. The company also discovered shale gas reserves in the Vaca Muerta block, he said.

Before Argentina seized control of YPF by taking a 51 percent stake from Repsol in April, YPF planned to announce the shale oil discoveries, Rix said.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: Robin Saponar at rsaponar@bloomberg.net


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