(Observatorio Petrolero Sur, 5.Feb.2018) â Vaca Muerta is a leading case for the next generation of fossil fuels. Big Oil and Gas companies are keen to turn it into a success story âwhich is why we collectively need to put a stop to this if we are serious about restricting […]
Category: Argentina
Argentina energy
Argentina Imports Natural Gas From Chile Under Two Contracts
(Energy Analytics Institute, Jared Yamin, 17.May.2017) â Argentina started importing natural gas from Chile, and will continue over an estimated three month period in order to cover increased demand during the winter period. On May 11, 2016 Argentina initiated import of an estimated 5 million cubic meters per day of […]
YPF And Schlumberger Ink Bandurria Sur JV Deal
(Schlumberger, 12.Apr.2017) â Schlumberger President of Operations, Patrick Schorn, and YPF Chairman, Miguel Ăngel GutiĂ©rrez, signed an agreement to start a shale oil pilot project in Bandurria Sur Block in Vaca Muerta, NeuquĂ©n. The agreement, signed in YPFÂŽs offices in Buenos Aires involves a USD 390 million phased investment by […]
Tecpetrol to Invest $2.3 Bln in Vaca Muerta
(Reuters, Eliana Raszewski, 23.Mar.2017) â Argentinaâs Tecpetrol, part of the Techint Group, said on Thursday it would invest $2.3 billion in the Vaca Muerta shale fields through 2019, the largest announcement in the formation in years. Tecpetrol said in a statement the investment was made possibly due to measures from […]
President Energy Updates on Argentine Reserves
(President Energy Plc, 15.Mar.2017) â President Energy Reports Audited Argentine Reserves Upgrade President Energy Group 2P Hydrocarbon Reserves now in excess of 20 MMBoe. Highlights: — Argentine 1P Oil Reserves increase by 9% to 12 MMBoe of which 11.5 MMBbls is oil — Argentine 2P Reserves increase by 10% to […]
President Energy Provides Update on Argentine Ops
(President Energy Plc, 12.Mar.2017) â President Energy announced that the first workover of a previously producing well, DP12 at the Dos Puntitas field, has been completed on time and on budget. The workover of DP12 went to plan with minimal non-productive time and the well, which had previously had a […]
Moody’s Changes Outlook on Argentine Cos
(Moody’s Investors Service, 7.Mar.2017) â Moody’s Investors Service revised to positive from stable the outlook for several companies operating in Argentina, while all ratings were affirmed. The companies’ outlook change follows the revision of the Argentine government’s B3 rating outlook to positive from stable on March 6, 2017. ISSUERS AND […]
EcoStim Secures $17 Million in New Funding
(Eco-Stim Energy Solutions, Inc., 6.Mar.2017) â Eco-Stim Energy Solutions, Inc. announced that an affiliate of Fir Tree Partners (FTP) entered into a transaction with an affiliate of Albright Capital Management LLC (ACM) pursuant to which FTP has purchased from ACM $22 million aggregate principal amount of the company’s outstanding 14% […]
Andes EnergĂa, YPF to Develop Vaca Muerta
(Energy Analytics Institute (EAI), Clifford Fingers III, 16.Feb.2017) â Andes EnergĂa and YPF plan joint investments to boost hydrocarbon production in the Vaca Muerta in Argentina. âWe have projects to drill hundreds of wells,â reported the daily ClarĂn, citing Andes General Manager Alejandro Jotayan. âThe great potential is in shale […]
Moody’s Assigns Rating to Pampa EnergĂa
(Moody’s Investors Service, 6.Jan.2017) â Moody’s Investors Service assigned a B3 Corporate Family Rating (CFR) to Pampa EnergĂa S.A. At the same time, Moody’s assigned a B3 rating to the company’s proposed long term senior unsecured notes. Proceeds from the notes will be used to refinance debt and for capital […]
Eco-Stim Energy Secures $2 Mln Loan
(Eco-Stim Energy Solutions, Inc., 1.Dec.2016) â Eco-Stim Energy Solutions, Inc. finalized a $2 million secured loan from existing shareholders. The loan will have a one-year term with the proceeds used to prepay a $1 million note scheduled to mature on December 15, 2016, related to previous equipment purchases, as well […]
Big Oil Flocks To Argentina As Permian Land Prices Skyrocket
(Oilprice.com, Charles Kennedy, 15.Sep.2016) â The Permian Basin has become so hot that some oil companies are starting to stay away, instead looking at frontiers that are less picked over. BP is one such company. The British oil giantâs CEO Bob Dudley said that land in the Permian has become […]
Next Hot Spot for Shale Drilling? Argentina
(CNN Money, 28.Jul.2016) â Argentina has exceptional hydrocarbon reserves, but politics has greatly affected its development. The economy in Argentina is best described as a “pendulum”, going from loose economic policies in the ’80s to Washington-consensus liberalisation in the ’90s and back again under the Kirchner regime. Since the current […]
Argentina Establishes Ceiling for Subsidized Gas
(Energy Analytics Institute, Jared Yamin, 7.Jun.2016) â Argentina established a ceiling for subsidized gas invoices at 400 percent for private entities, and 500 percent for business entities. The prices will be in effect for the remainder of 2016, reported Efe, citing a resolution published in an official bulletin. ***
Executive Profile: YPF New CEO Ricardo Darré
(Energy Analytics Institute, Jared Yamin, 6.Jun.2016) â Ricardo DarrĂ© will assume the position of CEO at YPF on July 1, 2016, taking over the helm from the interim CEO. DarrĂ© graduated from the Buenos Aires Technology Institute (ITBA by its Spanish acronym) with a specialization in mechanical and industrial engineering, […]
ExxonMobil to Invest $10 Billion In Vaca Muerta
(Energy Analytics Institute, Jared Yamin, 3.Jun.2016) â U.S.-based ExxonMobil plans to invest $10 billion over the next 20 years in the Vaca Muerta area in Argentina. The announcement was made by ExxonMobil President Rex Tillerson during a visit the Vaca Muerta area in NeuquĂ©n with Argentine President Mauricio Macri, reported […]
YPF, Enap Sipetrol to Invest $165 Mln in Magallanes
(Energy Analytics Institute, Jared Yamin, 3.Jun.2016) â YPF and Enap Sipetrol plan to invest $165 million to boost production in the Magallanes field offshore. The companies plan to increase natural gas production by 60 percent to 4 million cubic meters per day from 2.4 million cubic meters per day, and […]
Moody’s Affirms YPF’s B3 Rating
(Energy Analytics Institute, Jared Yamin, 2.Jun.2016) â Moody’s affirmed YPF Sociedad Anonima’s B3 issuer rating. YPF’s B3 BCA (Baseline Credit Assessment) and its Baa1.ar national scale rating remained unchanged. The outlook on the ratings is stable. ***
Enargas Mandates Complexes To Reduce Gas Demand
(Energy Analytics Institute, Jared Yamin, 1.Jun.2016) â Union protests in Tierra del Fuego as well as climatic conditions have made it impossible to bring in LNG ships into the Buenos Aires province; thus, forcing the Argentina government to take steps to reduce demand for gas. An emergency committee meeting proposed […]
Argentina Launches RenovAr Plan
(Energy Analytics Institute, Jared Yamin, 31.May.2016) â The Argentine government launched its so-called National Renewable Energies Plan or RenovAr. The plan contemplates installing nearly 1,000 megawatts of energy from various wind, solar and other projects. The plan could attract project investments on the order of $2 billion in the first […]
Saesa Says 15 Wind Projects Ready For Construction
(Energy Analytics Institute, Jared Yamin, 31.May.2016) â Energy company Saesa announced that at least 15 wind park projects are ready to be built in Argentina, which represents nearly 900 megawatts of energy. There are also another 17 projects in the advanced approval stages, which have potential to add 1,000 megawatts […]
PDVSA to Divest of Petrolera del Cono Sur In Argentina
(Energy Analytics Institute, Jared Yamin, 23.May.2016) â A group of Argentina businessmen plan to buy the assets of Petrolera del Cono Sur, a subsidiary of PDVSA in Argentina. The assets include 95 service stations as well as storage tanks in the Dock Sud, reported the daily newspaper La NaciĂłn. The […]
Enarsa to Import Gas From Chile
(Energy Analytics Institute, Jared Yamin, 23.May.2016) â Argentina’s state oil company Enarsa signed a contract to purchase natural gas from Chile at a price 53 percent higher than the LNG that arrives to Chile on tankers and 128 percent higher than what is pays for imports from Bolivia, reported the […]
Bolivia Exported 24 MMcm/d to Brazil
(Energy Analytics Institute, Jared Yamin, 19.May.2016) â Bolivian exports to Brazil reached 24 million cubic meters per day on May 12, 2016 compared to 30 million cubic meters per day on May 8, 2016 while exports to Argentina reached 19 million cubic meters per day, up compared to 14 million […]
Chile Started Gas Exports to Argentina
(Energy Analytics Institute, 18.May.2016) â Chile shipped its first molecules of natural gas to Argentina on 17 May 2016, owing to an agreement between both governments and the French-Belgian company Engie. The first shipment left from Mejillones, Chileâs energy ministry announced 18 May 2016 in an official statement. Chile expects […]
Approval of Sale of Petrobras Argentina
(Petrobras, 13.May.2016) â Petrobras announced that its Board of Directors approved the sale of its entire 67.19 percent interest in Petrobras Argentina (PESA), owned by Petrobras Participaciones S.L. (PPSL), to Pampa EnergĂa. The transaction base price is $892 million, equivalent to the value of $1,327 million for 100 percent of […]
Argentina Interested in Buying Excess Gas from Punta De Sayago
(Energy Analytics Institute, Aaron Simonsky, 11.May.2016) â The government of Uruguay continues to move forward with agreements to secure markets for natural gas to come from its proposed regasification plant in Punta de Sayago. Uruguay’s President TabarĂ© VĂĄzquez and Industry, Energy and Mining Minister Carolina Cosse, signed a decree that […]
Petrobras Reports on Negotiations for Sale of Petrobras Argentina
(Petrobras, 8.May.2016) â Petrobras, regarding the sale of its stake in Petrobras Argentina, as disclosed in the Material Fact on February 3, 2016, would like to announce that negotiations with Pampa Energia are ongoing, extending the period of exclusivity for another 30 days to complete negotiations. Petrobras reiterates that this […]
YPF Announces Plans for 20 Areas in RĂo Negro, Chubut
(Energy Analytics Institute, Jared Yamin, 7.May.2016) â YPF plans to divest of as many as 20 areas in Argentina where the company has a partial interest or where the areas do not offer important earnings. YPF has put up on the market 6 areas in RĂo Negro, including some with […]
Argentina to Pay Galuccio $72 Mln Pesos to Leave YPF
(Energy Analytics Institute, Jared Yamin, 5.May.2016) â The government of President Mauricio Macri will pay 72 million Argentine pesos to Miguel Galuccio as part of an offer to the executive to depart the company. Board of Director members with YPF, controlled 51 percent by the government, came to agreement at […]
Moody’s Upgrades Argentine Corporate Issuers
(Moody’s, 21.Apr.2016) â Moody’s Investors Service upgraded ratings of several companies with operations in Argentina, with the outlook changed to stable from positive. The rating actions on the companies’ global scale ratings follow Moody’s upgrade on April 15, 2016 of Argentina’s government bond rating to B3 from Caa1, with the […]
Battery-hungry World Turns to South America’s ‘Lithium Triangle’
(Reuters, 15.Mar.2016) â Far from the soy and cattle that dominate its vast fertile pampas, Argentina harbors another valuable commodity that is rocketing in price and demand and luring newly welcomed foreign investors. Lithium, the so-called âwhite petroleumâ, drives much of the modern world. It forms a small but essentially […]
Moodyâs Withdraws Pan America Rating
(Moody’s Investor Service, 9.Sep.2015) â Moody’s Latin America Agente de CalificaciĂłn de Riesgo has withdrawn the Aa1.ar National Local Currency rating for the Senior Unsecured Bank Credit Facility of Pan American Energy LLC, Argentine Branch (PAE) for business reasons. However, the B2 Global Scale Rating remains unchanged. Pan American Energy […]
Elevated Corporate Risks in Argentina
(Moody’s Investor Service, 16.Jul.2015) â Economic stagnation, a difficult political environment and heightened volatility in financial markets with the approach of presidential elections will be elevating pressures on non-financial companies in Argentina through mid-2016, says Moody’s Investors Service. Most of the 20 companies that Moody’s rates in Argentina, however, will […]
Moodyâs Covenant on YPF Bond Offering
(Moody’s, 20.May.2015) â Moody’s Investors Service assigned an overall covenant quality score of 3.37 to YPF Sociedad AnĂłnima’s $1,500 million 8.500% Senior Notes due 2025. ***
Moodyâs Confirms Petrobras Argentina Notes
(Moody’s, 28.Apr.2015) â Moody’s Latin America Agente de CalificaciĂłn de Riesgo confirmed the Ba2/Aaa.ar global scale rating and national scale rating on Petrobras Argentina S.A.’s (Petrobras Argentina) $300 million in guaranteed Series S notes (CUSIP 71646JAB5). The rating action reflects Moody’s Investors Service’s rating action on 27.Apr.2015 of confirming Petrobras’ […]
Baker Hughes Announces 1Q:15 LatAm Results
(Baker Hughes Incorporated, 21.Apr.2015) â Baker Hughes Incorporated announced results for the first quarter of 2015. Latin America revenue was $493 million for the 1Q:15, down $37 million, or 7%, compared to the 1Q:14. The drop in revenue can be attributed to activity declines in the Andean area, as reflected […]
Petrobras Reports Sale of Assets in Argentina
(Petrobras, 31.Mar.2015) â The Board of Directors of Petrobras Argentina (PESA) approved the sale of all of its assets in the Austral Basin (province of Santa Cruz) to Compañia General de Combustibles S.A. (CGC) for $101 million. PESA assets involved in the deal include 26 onshore exploration and production concessions, […]
Moodyâs Rates YPFâs Proposed Global Notes
(Global Credit Research, 4.Feb.2015) â Moody’s Investors Service assigned a Caa1 global foreign currency rating to YPF Sociedad Anonima’s (YPF)’s proposed $750 million in aggregate in addons to its outstanding 8.875% $587 million notes due in 2018 and 8.750% $1,000 million notes due in 2024. Both series were issued in […]
Apco Completes $470 Mln Merger
(Apco Oil and Gas International Inc., 29.Jan.2015) â Apco Oil and Gas International Inc. completed its merger with Pluspetrol Black River Corporation, a wholly-owned subsidiary of Pluspetrol Resources Corporation, in an all-cash transaction with an equity value of approximately $427 million. In connection with the transaction, Apco will be delisted […]