Argentina Boosts Shale

YPF, Argentina’s largest energy company, says it has discovered a large shale deposit at its Loma La Lata field, estimated to hold 257 trillion cubic feet (TCF) of natural gas, or about 150 million barrels of shale oil. The company, which is 58.23% owned by Repsol, says it will invest a total of $270 million this year to develop a pilot area in the site, drill 17 new wells and fracture 14 existing wells. According to the U.S. Department of Energy, Argentina’s shale reserves total more than 774 TCF. The find represents a 6% increase in the...

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