Billionaire Bulgheronis Back YPF in $1.5 Billion Shale Deal
This article is for subscribers only.
Bridas International SA, an oil holding controlled by Argentina’s billionaire Bulgheroni brothers, agreed to invest $1.5 billion with YPF SA to develop shale oil reserves in Patagonia.
Bridas and state-controlled YPF will have 60 days to negotiate terms of the accord, which will give Bridas 50 percent stakes in the Bajada Anelo and Bandurria areas in southwestern Argentina, the Buenos Aires-based company said late Dec. 28 in a regulatory filing. The partnership plans to drill 130 wells, YPF said in a separate statement.