RE:RE:note from Ian Habke about MagallanesIan shoots straight.
I think the deal will get done and our gas processing capability will expand by nearly 100%.
And Tks to Westy for teasing that out of Ian.
In Argentina, oil prices are set by the government for product sold into the domestic oil market, which is where Madalena sells the oil from its Argentine operations. For many years Argentina's domestic oil prices were well below the Brent oil benchmark price. Since May 2014, oil prices inArgentina have remained above USD $83 per barrel while Brent oil prices have sharply declined from USD $115 per barrel to USD $53 per barrel.
The regulators in Argentina have set January 2015 oil pricing at approximately USD $77 per barrel for Medanito crude quality oil compared to the December 2014 posted price of approximately USD $83.90 per barrel of oil. The USD $77 posted Medanito crude oil price in Argentina for January 2015 is approximately 37% higher than the comparative period Brent price of USD $56 per barrel.