The Neuquen basin of Argentina has several active petroleum systems and has produced hydrocarbons for many years. It also made the New York Times yesterday, with a story about the oil shale prospectivity of the Vaca Muerta formation.
The Neuquen basin of Argentina has several active petroleum systems and has produced hydrocarbons for many years. It also made the New York Times yesterday, with a story about the oil shale prospectivity of the Vaca Muerta formation.
YPF, the Argentine oil company, announced a significant 150 million barrel discovery in May.
Success in the Bakken formation of North Dakota and the Eagle Ford Shale in Texas have spurred global interest in extracting both liquids and gas from these types of rocks.
“The importance of this discovery goes well beyond the volume,” said Sebastián Eskenazi, YPF’s chief executive, as he announced the find. “The important thing is it is something new: new energy, a new future, new expectations.”
The article quotes AAPG member Bob Fryklund, vice president for global exploration and production analysis at IHS Cera: “Tight oil is the new revolution in oil production, and it’s not just the U.S. It’s worldwide.”