Schlumberger agrees to $390M Vaca Muerta deal, YPF says
Apr. 12, 2017 2:25 PM ET|About: YPF Sociedad Anonima (YPF)|By: Carl Surran, SA News Editor Argentina's YPF (YPF +1.1%) says it reached agreement with Schlumberger (SLB -0.1%) for a $390M investment in the Vaca Muerta shale field.
In a letter to the Buenos Aires stock exchange, YPF says SLB would invest the full amount and obtain a 49% stake in the Bandurria Sur concession, where the two companies would develop a two-phase shale oil pilot project.
SLB is the largest energy company - including BP, Total and Shell - to invest in pilot projects at Vaca Muerta, which contains the world's second largest reserves of shale gas.
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