Argentina: Pampa Energía to invest in shale gas project

Pampa Energia, one of Argentina's leading natural gas producers, is preparing to invest $200 million in a pilot oil project in the rich Vaca Muerta shale basin. This initiative is designed to diversify the company's gas-focused activities by targeting production of 200,000 barrels per day.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Pampa Energía, Argentina’s fifth-largest natural gas producer, plans to invest $200 million in a pilot oil project in the Vaca Muerta shale basin, with the aim of reaching 200,000 b/d of production over the next few years, thus helping to diversify its upstream gas-intensive activities, company executives said Aug. 10.

Ambitious Projects: Drilling and Infrastructure Planned on the Rincón de Aranda Block

The company plans to drill two four-well platforms and build related facilities and infrastructure for the pilot on its Rincón de Aranda block, starting in the first quarter of 2024, said Executive Director of Exploration and Production Horacio Turri on a conference call with investors.

The aim is to complete the pilot project by the end of 2025, when the company plans to move into the full-scale development phase, Turri added. If the development phase continues, production at Rincón de Aranda could reach 200,000 b/d by around 2027, he said.

“We will need additional transport capacity to evacuate all the production from the block,” said Turri.

New Path for Pampa: Strategic acquisition of Rincón de Aranda

Pampa took control of Rincón de Aranda in June by swapping a 100% stake in a wind farm with TotalEnergies in exchange for the latter’s 45% interest in the block, a move aimed at diversifying its upstream gas-focused activities. The upstream portfolio now stands at around 90% gas and 10% oil, according to company data.

On the conference call, Pampa CEO Gustavo Mariani said the goal was “to become a player in oil production.” The company has already drilled and tested a well on the Rincón de Aranda.

“We expect oil production to expand, which is why we made this deal to acquire Rincón de Aranda,” said Mariani.

“If the wells deliver what we expect them to deliver, the acquisition would be an exceptional transaction in terms of cost per acreage.”

Turri said the company might consider expanding its oil acreage in Vaca Muerta, one of the world’s largest shale plays.

“We’re always looking for new opportunities,” he said. If the price is right, we might be willing to consider them.”

 

Maple Creek Energy has secured the purchase of a GE Vernova 7HA.03 turbine for its gas-fired power plant project in Indiana, shortening construction timelines with commercial operation targeted for 2029.
Talen Energy has finalised a $2.69bn bond financing to support the purchase of two natural gas-fired power plants with a combined capacity of nearly 2,900 MW.
Excelerate Energy has signed a definitive agreement with Iraq’s Ministry of Electricity to develop a floating liquefied natural gas import terminal at Khor Al Zubair, with a projected investment of $450 mn.
Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position. —
A record expansion of liquefied natural gas (LNG, gaz naturel liquéfié — GNL) capacity is reshaping global supply, with expected effects on prices, contractual flexibility and demand trajectories in importing regions.
The Philippine government is suspending the expansion of LNG regasification infrastructure, citing excess capacity and prioritising public investment in other regions of the country.
Caracas suspended its energy agreements with Trinidad and Tobago, citing a conflict of interest linked to the foreign policy of the new Trinidadian government, jeopardising several major cross-border gas projects.
TotalEnergies is asking Mozambique for a licence extension and financial compensation to restart its $20 billion gas project suspended since 2021 following an armed attack.
An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.
QatarEnergy has acquired a 40% stake in the North Rafah offshore exploration block, located off Egypt’s Mediterranean coast, strengthening its presence in the region in partnership with Italian group Eni.
The U.S. Department of Energy has given final approval to the CP2 LNG project, authorising liquefied natural gas exports to countries without free trade agreements.
LNG Energy Group finalised a court-approved reorganisation agreement in Colombia and settled a major debt through asset transfer, while continuing its operational and financial recovery plan.
Daniel Chapo is visiting the United States to encourage ExxonMobil to commit to a major investment in Rovuma LNG, a strategic gas project for Mozambique as TotalEnergies resumes its suspended operations.
Baker Hughes will expand its coiled tubing drilling fleet from four to ten units in Saudi Arabia’s gas fields under a multi-year agreement with Aramco, including operational management and underbalanced drilling services.
Tokyo Gas commits to one million tonnes per annum of liquefied natural gas under the Alaska LNG project, boosting Glenfarne’s commercial momentum after five agreements signed in seven months.
Indonesia Energy Corporation partners with Aquila Energia to develop two pilot projects combining solar and natural gas to power data centres in Brazil, under a non-binding framework supported by both governments.
A former Ukrainian soldier accused of taking part in the 2022 sabotage of the Nord Stream pipeline is at the centre of a contested extradition process between Italy and Germany, revived by a ruling from Italy’s Court of Cassation.
Venezuela demands full financial compensation for any gas exports from the offshore Dragon field, reactivated following U.S. authorisation granted to Trinidad and Tobago.
Vistra Corp. finalises the purchase of seven natural gas power plants totalling 2.6 gigawatts, strengthening its presence in key US electricity markets.
Tidewater Midstream and Infrastructure has finalised the sale of its non-core Sylvan Lake site to Parallax Energy Operating for $5.5mn, with limited impact on its 2025 results.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.