Chevron, YPF to Sign $1.5 Billion Deal to Develop Shale in July

Chevron Corp. will become the first major oil company to partner with YPF SA to develop shale oil and a final deal is expected in July, YPF said.

Miguel Galuccio, chief executive officer of YPF, and Ali Moshiri, Chevron’s head of Latin America, Middle East and Africa, visited the Patagonia shale formation today and met with Neuquen’s governor Jorge Sapag, according to an e-mailed statement today from the Buenos Aires-based company.