YPF discovered 150 million barrels equivalent of oil shale resources

abarrelfullabarrelfull wrote on 11 May 2011 11:25
Tags: argentina oil shale upstream ypf


YPF reported the discovery of non-conventional oil resources (shale oil) in the Dead Cow training in an area of ​​330 km2, in Loma La Lata, Neuquén province, with an average thickness of 250 meters that contains more than 150 million barrels of oil equivalent potential resources.

From these results, YPF initiated pilot development in an area of ​​25 km2 and the delineation of 200 km2. In the remainder of the year is estimated to drill 17 new wells and fracturing existing 14 wells, representing an estimated total investment of $ 270 million, of which have already invested $ 100 million.

"We came here to the Loma La Lata, to show that oil YPF now tells the country that found in the basement of this basin is the result of the efforts of its professionals, the work of its people, the belief who drive this company and investment in technology that were ready to achieve the goal, "said Executive Vice President and CEO of YPF, Sebastián Eskenazi, who recalled that this finding is part of the" Future Project "Exploratory Development Program 2010 / 2014 "that the company launched in December 2009.

Ad Neuquén governor took on leave, Jorge Sapag, the governor by the provincial executive, Carlos Gonzalez, the Federal Planning Minister Julio De Vido, and Chief Operating Officer of YPF, Ignacio Morán.

Vaca Muerta Formation is a rock with approximately 30,000 km2 in the Neuquen basin, with thicknesses ranging from 50 to 400 meters, which YPF has dominion over 12,000 km2.

To date there have been production 5 vertical wells with initial production ranging from 200 to 560 barrels of oil equivalent per day (boepd) of high quality as Medanito (42 ° API). These flow rates compare very favorably with similar fields in the United States and Canada, so far the only countries with significant production records resources of this nature.

In addition, the company plans to invest in the second half of next year to 200 million dollars to drill new wells and perform other fractures in existing wells. This pilot development involves an area of ​​25 km2 and delineation about 200 km2 in the area of ​​Loma La Lata.

YPF thus begins the first massive development of oil from a reservoir unconventional (oil shale) in the world outside North America. As in the United States, these resources represent an opportunity to generate potentially new reserves in the future.

Vaca Muerta Formation is at a depth of 3000m, above which is Quintuco training, taking into account activities, generate an additional opportunity. To this end we emphasize the well LLL No.X-1, with initial production of 4000 barrels of oil equivalent per day from this training Quintuco. These values, obtained in a single hole-not recorded more than a decade in the country and equal to the average production of 100 existing wells in Argentina.


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