more
news

From the Field

Oil majors in new Vaca Muerta deal

NEUQUéN, July 12, 2018 – Local E&P player Pampa Energía and super-majors ExxonMobil and Total have entered a 35-year concession in the Sierra Chata block in Argentina, international media reported Wednesday.

 

The companies have together committed to investing USD 520 million through 2023 in the block, to develop shale gas from the Vaca Muerta play and tight gas from the Mulichinco formation.

According to Pampa Energía, the 864-square-kilometre area is already producing 1.3 mcm (45.9 mcf) of gas per day through 69 active wells.

Pampa Energía will operate the block with a 45.6% stake, while ExxonMobil and Total will hold 51% and 3.4%, respectively.

Stay Informed