Exxon Mulls Big Investment In Argentina As Part Of Shale Strategy

21 Apr 2017   Argentina

ExxonMobil is betting on shale development not only on its home turf. The supermajor is also planning to speed up investment plans for shale gas drilling in Argentina’s prized Vaca Muerta formation in the Neuquen province. Exxon will start drilling Vaca Muerta in May, by drilling horizontal wells with laterals of 2,500-3,000 meters (8,202-9,843 feet), Neuquen province governor Omar Gutiérrez said on Monday. The U.S. major’s total investments in developing Vaca Muerta will have reached $750 million by the end of this year, said Gutiérrez, who discussed Exxon’s plans with executives of Exxon and its subsidiary XTO in Houston last week. ExxonMobil Exploration Argentina (EMEA) has been present in Vaca Muerta since 2010 . Last year, following the successful initial exploration results in the Bajo del Choique-La Invernada block, EMEA launched a pilot project to continue to assess the productivity and recovery of horizontal wells in Vaca Muerta. The […]

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