Chevron Confirms “Impressive Progress” Of Vaca Muerta Shale Oil Production

Patrick Archer competitiveness, foreign investment, real estate, us companies

The Vaca Muerta shale formation in Argentina’s Neuquen Basin continues to generate positive results and press releases for Chevron Corporation.

Chevron Reaffirms Investment & Highlights Results is the headline of an article in today’s Diariamente Neuquen which says the California-based company’s Loma Campana well has doubled hydrocarbon output since January 2014.

The Chevron press release touted the “impressive progress” of the Loma Campana operation being explored in conjunction with YPF. The company confirms that Loma Campana is now the second most important producing well in Argentina which will allow the company to achieve the objective of raising production to the equivalent of 3.1 million barrels of petroleum per day by 2017.

An article by Sarie Khalid in this week’s Khaleej Times titled Latin America and the Shale Oil Revolution pegs Chevron’s Vaca Muerta shale oil formation investment to-date at US$3 billion and notes the expanding role of other major players in the Neuquen Basin including Dow Chemical, Wintershall, Petronas and Sinopec. (Full Story in Spanish)

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