Americas Petrogas Sees Fast Growth in Argentine Shale Output
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Exxon Mobil Corp. and Americas Petrogas Inc. have “phenomenal” tight natural-gas prospects in Argentina and expect “explosive” output growth in 5 years, said Guimar Vaca Coca, managing director of Americas Petrogas.
Petrogas expects shale-oil and gas output to reach at least 10,000 barrels a day by 2017, Vaca Coca said in an interview in Buenos Aires today. The two companies are investing about $50 million to drill wells in Argentina’s southern Patagonia region this year and expect to invest $1.5 billion to $2 billion by that date.