WorldOil Argentina’s Vaca Muerta shale goals move further out of reach YPF is aiming for capital expenditures this year of $2.7 billion, as it tries to halt four years of production declines. After the coronavirus pandemic decimated revenue and the debt swap yielded limited results, getting there will require increasing fuel prices, cutting drilling costs, selling local debt, and maybe divesting assets. Argentina’s state-run shale driller faces debt deadline Creditors of Argentina’s state-run oil company, YPF SA, are sending mixed signals as one group of bondholders rejected the company’s latest debt restructuring plan while another voiced support. Equinor and YPF team up with Shell in Argentina's offshore CAN 100 block The CAN 100 block comprises an area of 15,000 km² and is the largest block in the North Argentinian Basin. TGS announces new Brazilian seismic acquisition projects TGS will mobilize the COSL vessel HYSY720 to commence acquisition of the Espirito Santo 3D survey by year-end. Argentina pledges $5.1 billion subsidy for Vaca Muerta shale drillers Energy Secretary Dario Martinez said spending on subsidies is still better than the alternative of buying LNG cargoes, despite low current prices. “We’ve done the analysis and we really benefit from doing this,” Martinez told reporters in Buenos Aires Wednesday. Weatherford signs two-year surface pumping contract in Argentina Weatherford International has been awarded an exclusive two-year, $15M contract with a major independent operator in Argentina. Weatherford will provide 146 surface pumping units, including the Maximizer II surface pumping unit and the Rotaflex 2.0 long-stroke pumping unit. Argentina’s plan to protect drilling by setting oil prices gains momentum Energy markets are rarely left to their own devices in Argentina, to the frustration of many in the industry, and past governments have used controls to shield the local energy business from global price swings. Argentina considers $45/bbl floor price for domestic crude The administration of President Alberto Fernandez has circulated a proposal to set $45 as the per-barrel mandate in a bid to keep the domestic drilling business alive and sustain development of the vast Vaca Muerta shale formation during the demand-killing coronavirus pandemic. Oil crash kills Vaca Muerta’s potential as the next shale hotspot The Argentine region is often compared with the Permian basin in the U.S., with the promise to push out a million barrels of oil a day and turn around an economy on course for a third straight contraction this year. Equinor and Shell partner on Vaca Muerta acreage buy Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province. The consideration for each partner for their 24.5% interest is USD 177.5 million.