ExxonMobil to Explore Argentina Shale Oil & Natural Gas

Patrick Archer agribusiness, foreign investment, us companies

ExxonMobil, the world’s largest publicly traded international oil and gas company, will invest up to US$76.3 million to explore and develop shale oil and natural gas in the Neuquen Province of Argentina. Terms of the farm-out agreement (FOA) will involve ExxonMobil taking a 45% stake in a Canadian company’s Los Toldos shale gas blocks which encompass over 160,000 acres in …