due to the fact that the management have wasted all the past 10 years and more than 150 million dollar going after cancer with a single compound. I think Vijay be fired and so he reap what he planted the past 10 years of time and money waste. I think if they focused on infection bugs they wont be at this shape now, but I think it will change in the near future but I still hates to see Vijay benefiting on this while he was gambling with shareholders money all those years. fire him we get a 30% rally right away
YPF SA, Argentina’s largest shale oil producer, said it signed two contracts for a total of about $1.2 billion to lease 15 drilling rigs to develop the country’s Vaca Muerta shale formation.
The five-year accords adding rigs to the company’s existing 65 were signed with Norwegian Archer Ltd.’s DLS Argentina Ltd. unit, and Helmerich & Payne (HP:US) Inc., the Buenos Aires-based producer said today in an e-mailed statement. Helmerich & Payne, based in Tulsa, Oklahoma, will provide 10 rigs while Hamilton, Bermuda-based Archer will provide the rest. The contracts have an option for a three-year extension, it said.
YPF is pledging to invest $37 billion through 2018 and is seeking partners to develop Vaca Muerta, an area the size of Belgium that contains an estimated 27 billion barrels of shale oil, the world’s fourth-largest deposit. YPF said it has 19 rigs in Vaca Muerta’s Loma Campana area, which it is jointly developing with Chevron
Buenos Aires, Feb 4 (Prensa Latina) The Argentinian oil company YPF increased its production of oil and gas in January to 9.8 and 9.2 percent, respectively, figured that had not been reached in more than ten years, the National Energy Secretariat reported today.
The company, run by the State since May, 2012, has been continuously increasing its productions for nine months, as a result of doubling investments last year, reaching $6 million USD, said the report published by the newspaper Pagina 12.
Monthly oil production has been continuously increasing since April, 2013, while gas production has been increasing since May in the same year.
The level of activity in the oilfields is unprecedented and allowed to close 2013 with inter-annual growth of 3.4 percent in oil and 2.2 percent in gas, the company reported.
Those results made possible to reverse the downward trend recorded along nine years in gas and 10 years in oil, and ratify YPF as leader in the hydrocarbon production in Argentina, with 41 percent of the oil market and 33 percent of the gas market, said Pagina 12.
This increase was achieved, changing the company's logic, investing the profit to increase productivity in the oilfields, said YPF General Manager Miguel Galuccio, who wasquoted by the mentioned newspaper.