(RTTNews, 23.Oct.2017) — U.S. oil company Chevron and the Argentinean state-owned YPF agreed to the expand the activities at Vaca Muerta’s Loma Campana field in the province of Neuquén, with the inclusion of a third drilling rig as this month. The estimated joint investment reaches US$ 500 million by 2018.
In a statement, both companies highlighted the achievements at Loma Campana regarding efficiency and cost reduction. The operation at Loma Campana achieved a 50% reduction in the cost of horizontal wells, from US$ 16.2 million in 2013 to US$ 8.2 million in the second quarter of this year.
Two weeks ago, Chevron had announced that it would leave RĂo Negro to concentrate its operations in NeuquĂ©n, for which it agreed the sale of the Estancia Vieja-Puesto Flores block to be transferred to President Energy, the local subsidiary of the British company President Petroleum.
