(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 Río Negro to concentrate its operations in Neuquén, 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.
