arckaringa partner search, page-24

Chevron just pulled the trigger on an Argentinian JV in an undeveloped shale play.

They paid $1.5 Billion to form a JV with nationalised oil firm YPF to jointly develop Vaca Muerta shale.

YPF will likely enter more JVs with another 3 big oil companies to develop Vaca Muerta.

REPSOL promised to sue anyone who entered a JV with YPF because they feel they have been ripped off by the Argentine government in 2012. Messy politics and huge soverign risk in Argentina that doesnt exist in South Aus.

http://oilprice.com/Latest-Energy-News/World-News/Chevron-to-Invest-1.5-Billion-in-Argentinas-Vaca-Muerta.html



What price Arckaringa. If this is a benchmark I'd be hopeful for a $1B deal :) Caveat - i have not done comparisons of how much exploration has occurred so far there or how all of their numbers for VrF and organic content stack up vs Arckaringa.