YPF contracts 15 new rigs for Vaca Muerta

Mar 06, 2014 12:00 AM

YPF contracted 15 new drilling rigs for its Vaca Muerta shale operations in Argentina, nearly doubling its existing rig count in the area.

The state-controlled firm signed two five-year contracts, worth close to US$1.2 bn, with Archer Limited's local subsidiary DLS and Helmerich & Payne.

DSL will provide five rigs manufactured by National Oilwell Varco, while H&P will supply 10 of its FlexRigs, YPF said in a press release.

These walking or skidding rigs will be the first of their kind in Argentina and will reduce new well costs, as they do not need to be disassembled to be moved to a different drill site.

The FlexRigs allow for horizontal or directional drilling, a technique that stands to increase individual well production, as each well will have more exposure to the shale pay.

H&P expects the first of its rigs to begin drilling in the Neuquén basin in the fourth quarter of its fiscal year ending September 30 .

"The remaining nine rigs are expected to be sequentially deployed, reaching full utilization by the end of the second quarter of fiscal 2015," the Tulsa-based firm said in a separate statement.

With 19 rigs in operation, YPF has drilled more than 130 wells on its Loma Campana area of the Vaca Muerta shale play, with production averaging 20,000 boe/d.

Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.


The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


Upcoming Conferences
« April 2019 »
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30

Register to announce Your Event

View All Events