ExxonMobil Snaps Up More Acreage In Neuquen Shale Play

摘要

BMI View: The outlook for Argentina's shale sector is brightening as more international companies with deep pockets, technological expertise and extensive US shale experience move into Neuquen. US major ExxonMobil has taken another step towards expanding its position in Argentina's burgeoning Neuquen shale play. The company has entered into a farm-in agreement with Argentinafocused independent Americas Petrogas that will see it take a 45% stake in four blocks and invest as much as US$76.3mn in initial exploration. We see Exxon's expansion in Neuquen as a positive step for the company's global unconventional gas strategy as we believe Argentina has the potential to emerge as one of the next major shale gas frontiers.