LatAmNRG Argentina Briefs: Gas Subsidy, Tecpetrol Rigs, Chevron Plans

(Energy Analytics Institute, Aaron Simonsky, 8.Feb.2019) — Heard on the street and LatAmNRG briefs on Moody’s saying changes to Argentina’s gas subsidy could affect investments, Tecpetrol Argentina’s plans to cut three rigs and up to 300 employees, Chevron Corporation’s planned expansion into the El Trapial and Narambuena areas, and Argentina’s government amending decree 44/1991 related to gas transport concessions.

Moody’s: Gas Subsidy Changes Could Affect Investments

(Energy Analytics Institute, Aaron Simonsky, 5.Feb.2019) — Changes in the Argentine’s government interpretation of the Vaca Muerta subsidy scheme could “weaken investor confidence,” reported writer Sofía Diamante, with online media La Nación, citing comments from rating agency Moody’s.

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Tecpetrol To Cut 3 Rigs, 300 Employees At Fortín de Piedra

(Energy Analytics Institute, Aaron Simonsky, 6.Feb.2019) — Tecpetrol Argentina plans to remove three rigs from production activities at the company’s Fortín de Piedra project that targets the Vaca Muerta formation, due to recent announcements from Argentina’s government to reduce a popular shale gas subsidy scheme. The move, if carried out, could affect some 300 employees, reported local media AM 1300.

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Chevron Eyes Expansion Into El Trapial, Narambuena Area

(Energy Analytics Institute, Aaron Simonsky, 7.Feb.2019) — U.S.-based Chevron Corporation plans to expand its search for shale into the northern zone of the Vaca Muerta formation, reported writer Victoria Terzaghi, with online media Río Negro.

“We have started an eight-well evaluation program at El Trapial in the north of Vaca Muerta,” reported the media, citing Chevron CEO Michael Wirth. “We are currently producing in the southern area, Loma Campana, but are intrigued by possibilities in the north, in El Trapial.”

Wirth also noted that in the recently acquired Narambuena area that the company, in partnership with YPF, would initiate and execute a four-well pilot sometime in 2019.

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Argentina Amends Decree Related To Transport Concessions

(Energy Analytics Institute, Aaron Simonsky, 8.Feb.2019) — Argentina’s government amended Decree 44/1991, which regulates natural gas transport concessions, with the aim of promoting competition and investment in the sector, announced Argentina’s Energy Secretariat in an official statement.

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