BOE to produce from Vaca Muerta shale
Any comment on relative valuations of Crown Point and Americas Petrogas?
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Calgary Herald, February 1, 2013
CALARY BUSINESS
Americas Petrogas seeks partners
— Bloomberg
joint venture • Americas Petrogas Inc. said it’s pursuing new partners and may become an acquisition target as the Calgary-based company prepares to start producing oil in Argentina’s Vaca Muerta shale formation.
“We are looking at potential joint ventures with some pretty big companies,” chief executive Barclay Hambrook said. Petrogas may start commercial production in “several months” at the Los Toldos block it owns with ExxonMobil Corp. after an exploratory well flowed at 800 barrels per day, Hambrook said.
Petrogas, which also has a venture with Apache Corp. in Argentina, will need new partnerships to continue to develop its assets in the country, he said. The company plans to drill its first horizontal well this year and expects to be producing from at least five shale blocks by 2018, Hambrook said.