Connection

popular articles

Lagdo dam: Risk management between Cameroon and Nigeria
ITER Director Insists Fusion Project “Must Continue” Despite Challenges
Siemens Energy Reduces Losses and Improves Financial Outlook
G20 adopts energy innovation guide for emerging economies
United States: SoHyCal project wins award for hydrogen breakthroughs

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.

Please share:

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.”

 

Register free of charge for uninterrupted access.

Publicite

Latest news

Italy: Westinghouse and EDF in the Race for a Strategic Nuclear Partnership
ANDRITZ upgrades the Vamma hydropower plant in Norway
Baltic Power wind farm completes first onshore connection
Encavis AM Sells a European Wind Farm Portfolio of 48 MW for an Institutional Investor
Peak in CO2 Emissions: A Crucial Turning Point for the Global Energy Transition

Recently published in

Breakup of Gas Transit via Ukraine: Stakes and Consequences for Europe and Russia

The expiration of the gas transit agreement between Russia and Ukraine highlights the energy and economic challenges for the European Union, Russia, and Ukraine, exacerbating Europe's dependence on Russian gas and geopolitical tensions.
MiQ Certifies the Grain LNG Terminal, Enhancing Emission Transparency for American Exporters
MiQ announced the certification of the Grain LNG terminal in the United Kingdom, Europe's largest, thereby providing increased transparency on emissions for American exporters targeting European buyers.
MiQ Certifies the Grain LNG Terminal, Enhancing Emission Transparency for American Exporters
MiQ announced the certification of the Grain LNG terminal in the United Kingdom, Europe's largest, thereby providing increased transparency on emissions for American exporters targeting European buyers.
Moscow Refuses to Replace Gas Transit via Ukraine with Azerbaijan
Moscow has confirmed that no negotiations are underway with Baku to use Russian infrastructure to transport Azerbaijani gas to Europe, thus replacing Russian gas transiting through Ukraine.
Moscow Refuses to Replace Gas Transit via Ukraine with Azerbaijan
Moscow has confirmed that no negotiations are underway with Baku to use Russian infrastructure to transport Azerbaijani gas to Europe, thus replacing Russian gas transiting through Ukraine.
ADNOC Gas Cancels Das Island Expansion Project
ADNOC Gas has suspended the expansion project of Das Island LNG, redirecting its investments towards other strategic initiatives. This decision comes as part of its strategy to increase production capacity and meet the growing global LNG demand.
ADNOC Gas Cancels Das Island Expansion Project
ADNOC Gas has suspended the expansion project of Das Island LNG, redirecting its investments towards other strategic initiatives. This decision comes as part of its strategy to increase production capacity and meet the growing global LNG demand.

Russian Gas Flows via Ukraine in September Reach 1.26 Billion m³, According to AGPU

Russian gas deliveries via Ukraine reached 1.26 billion cubic meters in September, representing 39% of the contractual volume. The transit agreement between Russia and Ukraine will expire at the end of the year, raising concerns about European supply.
The demand for natural gas in the United States reaches a new peak in 2024, despite decarbonization ambitions
Natural gas consumption in the United States increased by nearly 5% over the first nine months of 2024, despite federal initiatives to promote renewable energy, reinforcing the country's key role in the global energy sector.
The demand for natural gas in the United States reaches a new peak in 2024, despite decarbonization ambitions
Natural gas consumption in the United States increased by nearly 5% over the first nine months of 2024, despite federal initiatives to promote renewable energy, reinforcing the country's key role in the global energy sector.
Increase in Offshore Project Costs at Equinor, Aker BP and Vår Energi
Norwegian energy companies Equinor, Aker BP and Vår Energi see their offshore oil and gas projects undergo significant cost increases, mainly due to inflation, delays and currency fluctuations.
Increase in Offshore Project Costs at Equinor, Aker BP and Vår Energi
Norwegian energy companies Equinor, Aker BP and Vår Energi see their offshore oil and gas projects undergo significant cost increases, mainly due to inflation, delays and currency fluctuations.
Europe strengthens its winter gas preparedness despite the Ukraine-Russia agreement
Europe makes significant progress in securing its gas supplies for winter, even with the imminent end of the gas transit agreement between Ukraine and Russia.
Europe strengthens its winter gas preparedness despite the Ukraine-Russia agreement
Europe makes significant progress in securing its gas supplies for winter, even with the imminent end of the gas transit agreement between Ukraine and Russia.

Japan, South Korea, and Italy: Towards Strategic Cooperation in the LNG Market

Japan, South Korea, and Italy are strengthening their cooperation in the LNG sector, with key partnerships to secure supplies and optimize costs.
Massive Gas Discovery in Colombia: A Turning Point for Energy Reserves
The discovery of a vast natural gas deposit in the Colombian Caribbean could double the country's energy reserves, according to Ecopetrol and Petrobras.
Massive Gas Discovery in Colombia: A Turning Point for Energy Reserves
The discovery of a vast natural gas deposit in the Colombian Caribbean could double the country's energy reserves, according to Ecopetrol and Petrobras.
Global Gas Balance Remains Fragile Amid Limited LNG Growth IEA
The global gas balance remains precarious in 2024, with modest LNG production growth despite record demand. Geopolitical tensions sustain price volatility in European and Asian markets.
Global Gas Balance Remains Fragile Amid Limited LNG Growth IEA
The global gas balance remains precarious in 2024, with modest LNG production growth despite record demand. Geopolitical tensions sustain price volatility in European and Asian markets.
McDermott Secures EPCI Contract from QatarEnergy LNG for the North Field South Project
McDermott has signed an engineering, procurement, construction, and installation (EPCI) contract with QatarEnergy LNG for the North Field South project, thereby strengthening its presence in Qatar's energy sector.
McDermott Secures EPCI Contract from QatarEnergy LNG for the North Field South Project
McDermott has signed an engineering, procurement, construction, and installation (EPCI) contract with QatarEnergy LNG for the North Field South project, thereby strengthening its presence in Qatar's energy sector.

Electricity prices rise in the US West as record-breaking heat wave prompts advisories

Wholesale electricity prices in the western United States are rising due to an unprecedented heat wave, leading to record-breaking demand forecasts and weather advisories in Southern California and the Southwest.
The Alexandroupolis LNG Terminal Redefines Energy Security in Europe
The new Alexandroupolis LNG terminal in Greece strengthens energy diversification in Eastern Europe, thereby reducing regional dependence on Russian gas and increasing supply security.
The Alexandroupolis LNG Terminal Redefines Energy Security in Europe
The new Alexandroupolis LNG terminal in Greece strengthens energy diversification in Eastern Europe, thereby reducing regional dependence on Russian gas and increasing supply security.
Monumental Energy Supports the Drilling of the Tariki-5 Gas Well in New Zealand
New Zealand Energy Corp. has started drilling the Tariki-5 well in partnership with L&M Energy. Monumental Energy, a shareholder in the company, is closely monitoring this new step aimed at boosting gas production in the Taranaki region.
Monumental Energy Supports the Drilling of the Tariki-5 Gas Well in New Zealand
New Zealand Energy Corp. has started drilling the Tariki-5 well in partnership with L&M Energy. Monumental Energy, a shareholder in the company, is closely monitoring this new step aimed at boosting gas production in the Taranaki region.
McDermott Wins FEED Contract for Rovuma LNG Project in Mozambique
McDermott, in partnership with Saipem and China Petroleum Engineering, will lead the preliminary design of the first phase of the Rovuma LNG project, backed by ExxonMobil, Eni, and CNODC. The project aims for an annual production of 18 million tons of LNG.
McDermott Wins FEED Contract for Rovuma LNG Project in Mozambique
McDermott, in partnership with Saipem and China Petroleum Engineering, will lead the preliminary design of the first phase of the Rovuma LNG project, backed by ExxonMobil, Eni, and CNODC. The project aims for an annual production of 18 million tons of LNG.

India Excludes Arctic LNG 2: Consequences for the Asian Energy Market

India has decided not to purchase gas from the Arctic LNG 2 project due to sanctions. This decision further isolates Russia from major Asian markets and could redefine LNG flows in the region.
U.S. Natural Gas Prices Hit 14-Week High Following Hurricane Helene’s Disruption
Hurricane Helene disrupted gas production in the Gulf of Mexico, leading to a 5% rise in U.S. natural gas prices and affecting key energy infrastructures across the U.S. Southeast.
U.S. Natural Gas Prices Hit 14-Week High Following Hurricane Helene’s Disruption
Hurricane Helene disrupted gas production in the Gulf of Mexico, leading to a 5% rise in U.S. natural gas prices and affecting key energy infrastructures across the U.S. Southeast.
TotalEnergies Increases its Gas Assets in the Eagle Ford Basin
TotalEnergies continues its strategy of growth in the liquefied natural gas sector by acquiring a 45% stake in Lewis Energy Group’s assets located in the Eagle Ford Basin, Texas. This acquisition is part of a series of recent moves aimed at strengthening its position in the U.S. market, already supported by its presence in the Cameron LNG liquefaction plant in Louisiana. By targeting the Eagle Ford Basin, the group gains access to an existing dry gas production, allowing it to optimize its LNG export capabilities.
TotalEnergies Increases its Gas Assets in the Eagle Ford Basin
TotalEnergies continues its strategy of growth in the liquefied natural gas sector by acquiring a 45% stake in Lewis Energy Group’s assets located in the Eagle Ford Basin, Texas. This acquisition is part of a series of recent moves aimed at strengthening its position in the U.S. market, already supported by its presence in the Cameron LNG liquefaction plant in Louisiana. By targeting the Eagle Ford Basin, the group gains access to an existing dry gas production, allowing it to optimize its LNG export capabilities.
US Regulators Support Venture Global LNG Despite Disputes Over LNG Deliveries
Venture Global LNG reçoit le soutien de la Federal Energy Regulatory Commission (FERC) concernant des accusations de non-respect de ses engagements de livraison de gaz naturel liquéfié (GNL), malgré des différends contractuels en cours avec des entreprises comme Shell et BP.
US Regulators Support Venture Global LNG Despite Disputes Over LNG Deliveries
Venture Global LNG reçoit le soutien de la Federal Energy Regulatory Commission (FERC) concernant des accusations de non-respect de ses engagements de livraison de gaz naturel liquéfié (GNL), malgré des différends contractuels en cours avec des entreprises comme Shell et BP.

Kamala Harris faces natural gas producers in Pennsylvania

Natural gas producers are urging Kamala Harris to clarify her position on LNG exports and industry regulation, while uncertainty persists over political decisions relating to hydraulic fracturing.
Belgium calls for coordinated ban on Russian LNG in Europe
Belgium is pushing the European Union to adopt a coordinated ban on imports of Russian liquefied natural gas (LNG), arguing for a legal basis to speed up the phase-out of fossil fuels from Russia.
Belgium calls for coordinated ban on Russian LNG in Europe
Belgium is pushing the European Union to adopt a coordinated ban on imports of Russian liquefied natural gas (LNG), arguing for a legal basis to speed up the phase-out of fossil fuels from Russia.
France: Saint-Avold abandons biomass for gas-fired conversion
The Saint-Avold power plant, initially slated for conversion to biomass, is to be converted to gas. A strategic decision to meet the power grid's need for flexibility while limiting costs.
France: Saint-Avold abandons biomass for gas-fired conversion
The Saint-Avold power plant, initially slated for conversion to biomass, is to be converted to gas. A strategic decision to meet the power grid's need for flexibility while limiting costs.
Technip and JGC carry out the engineering for the Rovuma LNG project in Mozambique
Technip and JGC Corporation have been commissioned to carry out the engineering for the Rovuma LNG project, an important milestone in the finalization of the project. The aim is to lay the foundations for a final investment decision expected in 2025.
Technip and JGC carry out the engineering for the Rovuma LNG project in Mozambique
Technip and JGC Corporation have been commissioned to carry out the engineering for the Rovuma LNG project, an important milestone in the finalization of the project. The aim is to lay the foundations for a final investment decision expected in 2025.

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS