YPF is starting to drill longer horizontal wells in the Vaca Muerta shale play, as it looks to slash development costs by more than 20% over the next 18 months.
Wintershall said last week it had launched its second pilot project in the Vaca Muerta shale in Argentina.
Ecopetrol and its partner Anadarko have made a major natural gas discovery in Colombia’s Caribbean Sea.
Chile’s state oil company ENAP is preparing to carry out its first horizontal drilling for natural gas resources in a tight play this year, as it seeks to reduce imports over the long term.
Petroperu intends to issue US$3 billion in bonds before the end of June to help finance the restructuring of the state-run company, Peruvian Energy Minister Gonzalo Tamayo said last week.
Royal Dutch Shell last week received bids for its downstream assets in Argentina, where the Anglo-Dutch super-major intends to focus on shale development.
Trinidad and Tobago would be able to refine crude extracted offshore Guyana, despite the difference in the oil’s API gravity, an official from state-run Petrotrin said last week.
Investment activity continues to gather momentum in Argentina’s Vaca Muerta shale, with four companies signing a deal last week to invest US$500 million in exploring two blocks.
Ecopetrol has revealed that Colombia has lost 893,000 barrels, or one day’s worth of the country’s production, this year alone because of rebel attacks on the Cano Limon-Covenas pipeline.
Brazil will offer three to four new areas in a pre-salt bid round this year and is preparing a schedule of rounds for the next five to 10 years.
A Brazilian court has overturned an injunction that had stopped Petrobras from selling its 90% stake in a gas transportation company in a deal worth around US$5.2 billion.
Mexico will hold two auctions every year from 2018 with a view to increasing foreign investment in the oil and gas sector, the Energy Ministry said last week.
Ecopetrol has revealed that its 1P reserves have dropped by 14% year on year, reflecting the recent decline in Colombian oilfield investment.
Enagas has announced it will invest US$320 million in its Chilean LNG project to meet the anticipated rapid growth in gas demand in South America.