WorldOil Caution urged for potential investors in Venezuela Jay Newman, the former hedge fund manager who helped billionaire Paul Singer win a 15-year fight against Argentina, has a word of caution for investors looking to replicate his success amid the chaos unfolding in Venezuela. President Energy announces significant upgrades to prospective resources in Argentina President Energy Plc, the upstream oil and gas company is pleased to announce the results of a new integrated basin study and geochemical survey over the exploration assets of the Company centered on its Puesto Guardian Concession, Matorras and Ocultar Licenses, which have resulted in significant upgrades to the Company’s Prospective Resources. Echo Energy announces farm-in agreement in Argentina Echo Energy plc, the South and Central American focused upstream gas company, is pleased to announce that it has entered into a binding farm-in agreement with Compañía General de Combustibles S.A. (CGC), a privately-owned subsidiary of the Argentinian conglomerate Corporación América International, for the acquisition by Echo of a 50% interest in each of the Fracción C, Fracción D, Laguna de los Capones and Tapi Aike licences, onshore Argentina. ExxonMobil’s investment plan approved for Los Toldos I South block in Argentina ExxonMobil announced today that the Neuquén Province government has approved the investment plan for the development of a 35-year unconventional exploitation concession in the Los Toldos I South block. President Energy announces first sale of oil from Puesto Flores field in Argentina President Energy, the upstream oil and gas company with assets focused primarily in Argentina, has announced that it has already banked the proceeds from its first delivery of oil from Puesto Flores field. Back-up cutters prevail in hard and abrasive rock A new backup cutter layout extends bit life without sacrificing rate of penetration. Dover Artificial Lift acquires PCP Oil Tools in Argentina Dover Artificial Lift has announced its acquisition of PCP Oil Tools in Argentina. Shaletech: Argentina Feds, IOCs breathe new life into ‘Dead Cow’ BP, Bridas to combine PAE and Axion Energy, forming new integrated energy company BP today announced that it has agreed with Bridas Corporation to form a new integrated energy company by combining their interests in the oil and gas producer Pan American Energy (PAE) and the refiner and marketer Axion Energy in a cash-free transaction. YPF CEO resigns as oil company readies asset sales, shale focus Ricardo Darre, CEO of YPF SA, has resigned as Argentina’s largest oil producer prepares to sell at least $1 billion in assets and focus on developing the world’s second-biggest reserve of shale gas.