Argentina gives up more shale gas

April 9, 2013 at 8:37 AM   |   0 comments

CALGARY, Alberta, April 9 (UPI) -- Canadian energy company, Americas Petrogas, announced it made a shale natural gas discovery onshore in the Vaca Muerta play in Argentina.

The company said it discovered natural gas by hydraulically fracturing the Los Toldos I block in the Vaca Muerta shale formation. It said it was able to produce as much as 3.2 million cubic feet of natural gas during initial production tests.

Regional Managing Director Guimar Vaca Coca said the find is situated less than a mile away from a major natural gas pipeline.

In March, Argentine energy company YPF said it signed a memorandum of understanding with Dow Chemical to develop shale natural gas in the country.

YPF said the deal is for shale reserves in more than 10,000 acres in Neuquen province.

The U.S. Energy Department's Energy Information Administration estimates that Argentina has 774 trillion cubic feet of technically recoverable shale gas resources, the third most in the world.

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