Contractors Unlimited

Repsol YPF Announces New Discovery in the Neuquen Province

Repsol As part of the 2010/2014 exploration and production development programme, four tight gas exploration wells were drilled in the Loma La Lata area, in the Neuquen Province. The presence of 4.5 TCF of non-conventional gas was verified.

At the same time, two wells drilled as part of the exploratory work being carried out in the Neuquen Province revealed that the Vaca Muerta formation presents similar conditions to shale gasproducing basins in the United States. The volume of non-conventional oil and gas existing in our acreage will be defined once the appraisal of the discoveries and exploration of that geological concept are completed in the Neuquen Basin. Given that these projects are at an initial phase, there is not enough information to quantify these resources.

Finally, YPF mentions that in 2010 the oil production decline has been reversed and the company estimates it will replace 100% of the oil produced in the year.

Published 07/12/2010

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Repsol is a fully integrated oil and gas company, operating in over 30 countries. It is one of the ten largest private oil companies in the world and one of the world's largest LNG players. Repsol is the managing general partner in Canaport™ LNG Limited Partnership, the entity that owns and operates Canaport LNG. Repsol has contracted for 100% of the capacity in Canaport LNG. To learn more about Repsol in North America or Repsol international.

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