Repsol YPF raises its hydrocarbons reserves and resources estimate in the Vaca Muerta play to 22.807 billion barrels of oil equi

abarrelfullabarrelfull wrote on 10 Feb 2012 14:18
Tags: argentina repsol s-america upstream ypf

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Repsol YPF has hired hydrocarbons reserves and resources Ryder Scott to carry out an external audit of its reserves, contingent resources and prospective resources of non-conventional hydrocarbons (shale oil and gas) in the Argentinean Vaca Muerta formation in the Neuquén province. The technical analysis is based on the criteria set out by Argentinean stock market regulator Comisión Nacional de Valores de Argentina and the United States´ Securities and Exchange Commission. At the same time, the evaluation of the contingent and prospective resources complies with the requirements of the Comisión Nacional de Valores de Argentina and the Society of Petroleum Engineers’ Petroleum Resources Management System.

The Vaca Muerta formation is estimated to cover an area of 30,000 km² (7.4 million acres) of which Repsol YPF has a net 12,000 km² (3 million acres). Preliminary results indicate that 77% of the area contains oil, with the rest containing dry and wet gas.

The evaluation carried out by Ryder Scott covers a total area 8,071 km² (1,994,378 acres), of which Repsol YPF holds a net interest of 5,016 km² (1,239,407 acres) in the Neuquén area.

The work carried out breaks down the total volumes of prospective resources, contingent resources, and proved, probable and possible reserves

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