LatAmNRG Briefs: Argentina, Chile, Guyana

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(Energy Analytics Institute, Aaron Simonsky and Piero Stewart, 6.Dec.2018) — Heard on the street and other LatAmNRG briefs from up and coming shale producer Argentina, Chile, and tiny Guyana, which awaits first oil in 2020 thanks to ten discoveries to-date by Texas-based Exxon Mobil.

President Energy Updates On Ops In Rio Negro

(Energy Analytics Institute, Aaron Simonsky, 7.Dec.2018) — In the Rio Negro Province Concessions in Argentina, President Energy announced the PFE 1001 well, the second new well in the company’s drilling program, tested at 400 b/d of oil.

The secondary target, having also successfully flowed oil, has been isolated and kept in reserve to produce at a future date. The well will be on stream from the primary target interval by 10 Dec. 2018, announced President Energy in a press statement.

Drilling of the third and final well in the 2018 series, PF0 1005, continues to proceed as planned.

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YPF Sells Oil Combustibles Petrol Stations

(Energy Analytics Institute, Aaron Simonsky, 6.Dec.2018) — YPF is finalizing details related to the sell of more than 120 petrol service stations belonging to Oil Combustibles.

Oil Combustibles is part of the Delta Patagonia group, a Paraguayan company that will utilize the Gulf brand.

Details were revealed by Econojournal and confirmed by persons close to the negotiation, the online media reported.

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YPF and Petronas To Invest Over $2.3 Bln In La Amarga Chica

(Energy Analytics Institute, Aaron Simonsky, 4.Dec.2018) — YPF and Petronas announced the start of the massive development phase of a shale oil project to be carried out in La Amarga Chica block, located in Neuquén province.

Over the next 4 years, both companies plan to invest more than $2.3 billion, which represents YPF’s second largest direct investment for the development of unconventional resources in Argentina, YPF announced in an official emailed statement.

The companies project combined production to reach 60,000 barrels of oil equivalent per day by 2022.

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Vaca Muerta Oil And Gas Output Up Year-Over-Year

(Energy Analytics Institute, Aaron Simonsky, 6.Dec.2018) — The Vaca Muerta is producing10.5% more oil and 9.2% more gas compared to a year ago, reported Chile’s Energy Ministry, citing Argentina’s Neuquén Governor Omar Gutiérrez.

“This generates the possibility to offer oil and gas in quality and at competitive prices to support sustainable economic development and recover exports,” said Gutiérrez.“Vaca Muerta is a decisive and strategic pillar for the development of Argentina.”

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Chile And Argentina Interchanging 4 MMcm/d Of Gas

(EnergyAnalytics Institute, Aaron Simonsky, 6.Dec.2018) — “Non-conventional gas in Argentina has increased by 256% in one year, and for the first time in three months, there is today an exchange of almost 4 million cubic meters per day [between Chile and Argentina],” reported Chile’s Energy Ministry, citing Argentina’s Energy Minister Javier Iguacel.

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IDB Guyana Loan For $11.6 Mln Targets Governance, Clean Energy

(Stabroek News, 6.Dec.2018) — Inter-American Development Bank (IDB) has made available to Guyana a $11.64 mln loan to assist it in preparations for its transition towards becoming a major oil and gas producing state.

According to IDB, this is a policy-based loan designed to support the strengthening and the sustainability of the energy sector in Guyana by contributing to the institutional development of oil and gas governance and the development of cleaner energy sources for electricity generation.

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