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Repsol YPF ups Argentine shale deposit potential

By MICHAEL WARREN - Associated Press -- SANTIAGO, Chile -- Repsol YPF on Wednesday raised the estimate for potentially recoverable oil and gas in its part of Argentina's "Vaca Muerta" (Dead Cow) basin to the equivalent of nearly 23 billion barrels, indicating a total shale deposit big enough to enable Argentina to challenge the United States in non-conventional petroleum production.

But it cautioned that exploiting the formation would need a huge expansion in Argentina's oil and gas industry, requiring thousands of wells, hundreds of drilling rigs and a national push to attract the necessary talent, equipment and investment at a time when other countries are competing to increase energy resources.

The company's shares traded on the Buenos Aires stock exchange jumped 8 percent after the announcement.

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Submitted Feb 09, 2012 By: Mudsprings

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B_550i All-Star Author Seattle Posts:720 Points:191,595 Joined:Aug 2011	Message Posted: Feb 10, 2012 9:39:05 AM Ignore B_550i Report Abuse Ok
Krykson All-Star Author Chicago Posts:840 Points:247,185 Joined:Jul 2006	Message Posted: Feb 10, 2012 2:45:46 AM Ignore Krykson Report Abuse Interesting
my2002m Champion Author Tulsa Posts:4,254 Points:1,309,120 Joined:Jul 2008	Message Posted: Feb 9, 2012 8:22:49 PM Ignore my2002m Report Abuse Will have little if any impact on us here.
Algernon Champion Author Greensboro Posts:3,081 Points:756,185 Joined:May 2004	Message Posted: Feb 9, 2012 1:53:17 PM Ignore Algernon Report Abuse Vote Obama out in 2012!!!!!!!
matthwbar Champion Author Toledo Posts:2,415 Points:664,940 Joined:Jun 2007	Message Posted: Feb 9, 2012 1:12:12 PM Ignore matthwbar Report Abuse WE keep finding oil...
BudsterMO Champion Author Kansas City Posts:1,915 Points:348,730 Joined:Aug 2009	Message Posted: Feb 9, 2012 10:52:05 AM Ignore BudsterMO Report Abuse Hold your breath people, I smell a lot of bad odor coming from Chile.
crep1291 Champion Author Ottawa Posts:1,307 Points:367,125 Joined:Dec 2010	Message Posted: Feb 9, 2012 10:21:22 AM Ignore crep1291 Report Abuse Yeah for oil! We now have 120 years and 3 months of oil to burn instead of 120 years, assuming oil consumption doesn't rise.
Wildman14 Champion Author Virginia Posts:2,858 Points:678,330 Joined:Jul 2008	Message Posted: Feb 9, 2012 10:12:45 AM Ignore Wildman14 Report Abuse All alternatives, now! Except nuclear.
manbig13 All-Star Author Cleveland Posts:731 Points:263,995 Joined:May 2011	Message Posted: Feb 9, 2012 10:06:39 AM Ignore manbig13 Report Abuse yeah but one day oil will be gone... and we do not know if the earth uses oil in some way...
DozenSpeed All-Star Author St. Louis Posts:525 Points:179,425 Joined:Sep 2011	Message Posted: Feb 9, 2012 9:55:24 AM Ignore DozenSpeed Report Abuse Further argument that 300-400 years of petroleum we previously knew about already will be more than enough to sustain us until free capital demand for other technologies can be well-established. In other words we should relax compromising oil policies for our own good. The benefit of putting cheaper oil into the population in the present would allow more productivity (not to mention a better world standard of living)which would actually accelerate alternate-fuel technologies in the future.
porotito Champion Author Houston Posts:1,319 Points:351,090 Joined:Dec 2010	Message Posted: Feb 9, 2012 9:55:00 AM Ignore porotito Report Abuse Don't exploit the area...cuz then the basin will be called "Vaca mas que super muerta".
maxcap59 Champion Author Texas Posts:1,394 Points:331,410 Joined:Apr 2011	Message Posted: Feb 9, 2012 9:47:46 AM Ignore maxcap59 Report Abuse Odumba better get down there with a couple of billion dollars for them, too, so they can get that oil and sell it to China (like he did with Brazil).
JimL1 Champion Author Phoenix Posts:6,305 Points:907,900 Joined:Jul 2003	Message Posted: Feb 9, 2012 9:36:04 AM Ignore JimL1 Report Abuse This is just another form of speculation, based upon what is often called "junk science."
Hangnail309 Champion Author Manitoba Posts:4,248 Points:1,322,675 Joined:Aug 2006	Message Posted: Feb 9, 2012 9:34:35 AM Ignore Hangnail309 Report Abuse Ok.
gem1224 Champion Author Tulsa Posts:1,338 Points:317,995 Joined:May 2011	Message Posted: Feb 9, 2012 9:34:07 AM Ignore gem1224 Report Abuse Drill now
Gascapade Champion Author Fort Worth Posts:1,227 Points:181,635 Joined:Mar 2009	Message Posted: Feb 9, 2012 9:30:18 AM Ignore Gascapade Report Abuse The more supply the better, given the worlds growing insatiable energy demands....
MikLamb Champion Author Texas Posts:6,168 Points:1,815,995 Joined:Jun 2006	Message Posted: Feb 9, 2012 9:29:47 AM Ignore MikLamb Report Abuse Sounds like typical oil company "puffery" to me.
nozzle46 Champion Author Little Rock Posts:5,393 Points:1,197,675 Joined:Jul 2006	Message Posted: Feb 9, 2012 9:29:29 AM Ignore nozzle46 Report Abuse Ahh, thanks. The world drinks that whole 23b in 277 days.
Maintroll Champion Author Lexington Posts:6,811 Points:1,341,535 Joined:Aug 2008	Message Posted: Feb 9, 2012 9:29:16 AM Ignore Maintroll Report Abuse Keep finding more and more of this that OPEC doesn't control.
greenfog Champion Author Illinois Posts:4,686 Points:1,281,140 Joined:Feb 2008	Message Posted: Feb 9, 2012 9:27:54 AM Ignore greenfog Report Abuse this keeps up and opec will be forced out, as so many other countries are going to be oil producers.
KWM2011 Champion Author Ontario Posts:1,451 Points:351,850 Joined:May 2011	Message Posted: Feb 9, 2012 9:27:14 AM Ignore KWM2011 Report Abuse Ok.
scrossi Champion Author Indiana Posts:2,048 Points:686,200 Joined:Dec 2008	Message Posted: Feb 9, 2012 9:27:01 AM Ignore scrossi Report Abuse Good.
arinkrat17 Champion Author Twin Cities Posts:4,525 Points:972,450 Joined:Aug 2009	Message Posted: Feb 9, 2012 9:26:23 AM Ignore arinkrat17 Report Abuse ok
1fuelish1 Champion Author Charlotte Posts:13,420 Points:1,550,180 Joined:Dec 2005	Message Posted: Feb 9, 2012 9:26:03 AM Ignore 1fuelish1 Report Abuse Ladies and Gentlemen, may I present the newest member of OPEC?
Hi1 Champion Author Ontario Posts:3,171 Points:1,396,395 Joined:Jun 2007	Message Posted: Feb 9, 2012 9:25:33 AM Ignore Hi1 Report Abuse Good for them.
mysub Champion Author Las Vegas Posts:7,406 Points:1,979,945 Joined:Apr 2006	Message Posted: Feb 9, 2012 9:25:24 AM Ignore mysub Report Abuse Goody2317, remember that on the next election day.
CISA Champion Author Orange County Posts:4,801 Points:1,172,165 Joined:Dec 2006	Message Posted: Feb 9, 2012 9:25:07 AM Ignore CISA Report Abuse now, watch the lady socialist running Argentina expropriate it!
Tanner_1 All-Star Author Virginia Beach Posts:618 Points:150,930 Joined:Nov 2011	Message Posted: Feb 9, 2012 9:25:03 AM Ignore Tanner_1 Report Abuse Very interesting indeed!
ted4636 Champion Author Cleveland Posts:1,723 Points:1,288,065 Joined:Jun 2007	Message Posted: Feb 9, 2012 9:23:17 AM Ignore ted4636 Report Abuse good
ssect8 Champion Author Hartford Posts:6,142 Points:1,759,120 Joined:Jun 2006	Message Posted: Feb 9, 2012 9:23:02 AM Ignore ssect8 Report Abuse Good for them, and OMG.
maske_2222 Champion Author Manitoba Posts:6,219 Points:1,261,065 Joined:Oct 2008	Message Posted: Feb 9, 2012 9:22:57 AM Ignore maske_2222 Report Abuse Oh no......
TruGr81 All-Star Author Arkansas Posts:578 Points:204,510 Joined:Feb 2011	Message Posted: Feb 9, 2012 9:21:41 AM Ignore TruGr81 Report Abuse I agree with teatiger OMG
sivart Champion Author Arkansas Posts:15,844 Points:2,717,685 Joined:May 2004	Message Posted: Feb 9, 2012 9:21:39 AM Ignore sivart Report Abuse "Estimate' = educated guess...or maybe uneducated guess!
radiorumor Champion Author Texas Posts:1,059 Points:395,545 Joined:Feb 2011	Message Posted: Feb 9, 2012 9:21:15 AM Ignore radiorumor Report Abuse Sounds like a “dead cow bounce” on the Buenos Aires stock echange
Legend1500 All-Star Author Midland Odessa Posts:623 Points:276,530 Joined:Jun 2011	Message Posted: Feb 9, 2012 9:21:07 AM Ignore Legend1500 Report Abuse OK
teatiger All-Star Author Dallas Posts:859 Points:1,117,740 Joined:Nov 2008	Message Posted: Feb 9, 2012 9:20:53 AM Ignore teatiger Report Abuse OMG = Obama Must Go
ChristinaCricke Champion Author New Jersey Posts:1,955 Points:416,250 Joined:Mar 2011	Message Posted: Feb 9, 2012 9:20:15 AM Ignore ChristinaCricke Report Abuse MMMMMMMMMMMmmmmm
humblepie Champion Author Toledo Posts:17,322 Points:2,009,320 Joined:Mar 2006	Message Posted: Feb 9, 2012 9:20:06 AM Ignore humblepie Report Abuse good for argentina
Barfood Champion Author St. Louis Posts:1,941 Points:686,905 Joined:Jun 2009	Message Posted: Feb 9, 2012 9:19:37 AM Ignore Barfood Report Abuse Sounds like 'oil, oil everywhere'!
JSX515 Champion Author St. Louis Posts:1,875 Points:439,325 Joined:Feb 2011	Message Posted: Feb 9, 2012 9:19:34 AM Ignore JSX515 Report Abuse I understood the dead cow part.
spedygonzales All-Star Author Toronto Posts:829 Points:280,890 Joined:May 2011	Message Posted: Feb 9, 2012 9:19:14 AM Ignore spedygonzales Report Abuse ok
payogie Champion Author Atlanta Posts:1,047 Points:301,510 Joined:Feb 2005	Message Posted: Feb 9, 2012 9:18:37 AM Ignore payogie Report Abuse Ok.
sljbc475 Champion Author Tucson Posts:2,390 Points:510,325 Joined:Dec 2010	Message Posted: Feb 9, 2012 9:18:19 AM Ignore sljbc475 Report Abuse Ok for Argentina.
silverbullet90 All-Star Author Florida Posts:834 Points:315,305 Joined:Apr 2011	Message Posted: Feb 9, 2012 9:18:10 AM Ignore silverbullet90 Report Abuse Ok
suzyq2007 Champion Author Dallas Posts:5,524 Points:1,320,480 Joined:Oct 2007	Message Posted: Feb 9, 2012 9:17:54 AM Ignore suzyq2007 Report Abuse this is good news for them
Goody2317 Veteran Author Wilmington Posts:335 Points:362,530 Joined:Jun 2008	Message Posted: Feb 9, 2012 9:17:34 AM Ignore Goody2317 Report Abuse Why is it that every other country out there is drilling or doing whatever they need to do to provide for there needs, but in this country, we are scaling back? That's right, we have eco-terrorists in this country that stop any kind of expansion no matter what we try.
PrinceLH All-Star Author Ontario Posts:852 Points:179,370 Joined:Jun 2011	Message Posted: Feb 9, 2012 9:17:29 AM Ignore PrinceLH Report Abuse Good for them.
IrishCowboy Champion Author Fort Wayne Posts:1,165 Points:312,260 Joined:Jan 2011	Message Posted: Feb 9, 2012 9:17:23 AM Ignore IrishCowboy Report Abuse Argentina's friendly enough...
KhelbenArunson Champion Author Michigan Posts:2,667 Points:358,190 Joined:Apr 2008	Message Posted: Feb 9, 2012 9:16:33 AM Ignore KhelbenArunson Report Abuse ok
justme48 All-Star Author New Jersey Posts:764 Points:175,020 Joined:Jun 2011	Message Posted: Feb 9, 2012 9:14:48 AM Ignore justme48 Report Abuse Maby the USA could sell them some equipment they need and we could get some jobs out of it hear in United States.