Borg, the issue is nut how there are equipped but will the average soldier fight. I say they run when push comes to shove. Also as well as informed as you appear to be then you know isis was born from Wahabism.
It does seem kind of obvious that we are not just investing in Mada Lena but in the Vaca muerta shale as well. Knowledge is power
Good luck to you
Jaz, I have read too many Jim Sinclair articles. I question the central banks when the Fed won't return Germans gold in a timely manor. In a word apothication.
thing is as long as we never know then it does not matter
Weatherford Drilling International expects to win contracts in the next two or three months to deploy rigs to Argentina where foreign energy majors are exploring one of the world’s largest shale resources, a senior company official said.
Warren Levy, the firm’s operations director for Latin America, described the South American country as a “target market” that had stayed strong even after international oil prices spiraled downward.
“In the next two to three months, we should expect to have contracts in hand and be moving equipment,” Levy said in an interview. “Over the next five to 10 years, we see only upside in Argentina.”
“There is a fundamental macroeconomic need for Argentina to increase its production, the infrastructure is here, the workforce is here and the ability to explore, find and develop the resource is quicker than in most countries.”
Weatherford Drilling International, the drilling arm of Dublin-based oil services company Weatherford International Plc , currently has no rigs in operation in Argentina.
State-run energy firm YPF estimates $200 billion is required over the next decade to exploit the barely-tapped Vaca Muerta shale play, which covers an area the size of Belgium. This would help reverse the country’s costly energy trade deficit.
Firms in Vaca Muerta, which lies under Patagonia’s windswept plains, were cutting exploration costs faster than expected, Levy said. But he added the number of rigs in use and tough labor regulations meant Argentina would struggle to replicate the supply chain efficiency of the United States.
A horizontal well that cost $30 million to drill in 2012 in Argentina now cost $7 million to $10 million, and this would fall further to $5-7 million, he said. Multi-stage fracks which used to take 10 days were now taking two to three days, he said.
Improved technology, better understanding of the Vaca Muerta shale formation and more rigs have helped to cut costs, though not to the same level as in markets like the U.S.
Is this just the beginning of more to come?
"The Islamic State group claimed responsibility for a suicide bombing at a #$%$ mosque in Saudi Arabia, warning that more "black days" loom ahead in a direct challenge to the rulers of the Sunni kingdom."
Nice to see you here. Must say Mada Lena has great promise but they still need to deliver. Since I have been here awhile I remain a bit under water but my feeling is the next 2 wells will go a long way to proving up a key piece of property. Looking for a strong second half
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) decreased by 2.7 million barrels from the previous week. At 482.2 million
barrels, U.S. crude oil inventories are at the highest level for this time of year in at least
the last 80 years. Total motor gasoline inventories decreased by 2.8 million barrels last
week, but are above the upper limit of the average range. Both finished gasoline
inventories and blending components inventories decreased last week. Distillate fuel
inventories decreased by 0.5 million barrels last week and are in the lower half of the
average range for this time of year. Propane/propylene inventories rose 2.6 million
barrels last week and are well above the upper limit of the average range. Total
commercial petroleum inventories decreased by 2.1 million barrels last week.
Not that early, still a ways off from my cost basis my my shares but this is a sound investment in my opinion.
Petronas, Malaysia’s state-owned oil and gas company, has decided to pour 550 million USD into Argentina’s oil and gas sector.
The investment falls under an agreement reached between Argentina’s national oil and gas corporation, YPF, and Petronas.
The YPF is contributing 75 million USD to the project, which will see the exploration and exploitation of the Vaca Muerta field, a geological formation that boats huge deposits of tight oil and shale gas.
Pirate, hope for all our sakes you have made a good choice. Key is shale oil is in the government's best interest Past history indicates that is all they care about And in this case that is our best interest
The pieces are coming together, maybe 4 to 6 months away from a very nice share price run in my opinion. The problem with trying to time a move though is that when they happen they can be very sharp and sudden and are easy to miss