Repsol YPF Boosts Argentine Oil Resources to 23 Billion Barrels
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Repsol YPF SA’s Argentine unit said its shale oil resources at the Vaca Muerta formation in the south of the country probably hold about 23 billion barrels, almost half the size of Brazil’s so-called pre-salt reserves.
The new estimates come after further drilling in the Connecticut-sized area of Argentina’s Neuquen province and reviews of the area by independent auditor Ryder Scott, YPF said late yesterday in a statement. YPF, the local unit of Madrid-based Repsol, previously discovered about 927 million barrels at the Loma La Lata field, which is located in the formation.