{"id":1188612,"date":"2020-06-05T08:53:16","date_gmt":"2020-06-05T13:53:16","guid":{"rendered":"https:\/\/www.mining.com\/?p=1026249"},"modified":"2020-06-05T08:53:16","modified_gmt":"2020-06-05T13:53:16","slug":"argentina-to-tender-block-in-worlds-top-shale-gas-and-oil-field","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1188612","title":{"rendered":"Argentina to tender block in world\u2019s top shale gas and oil field"},"content":{"rendered":"

Argentina is getting ready to launch a tender on a section of its giant Vaca Muerta formation, in the Patagonian province of Neuqu\u00e9n, which holds the world\u2019s second-largest shale gas reserves and the fourth-biggest shale oil reserves.<\/p>\n

The Loma Amarilla Norte block, in the northern half of what was originally a larger section of Vaca Muerta, has experienced significant exploration activity in recent years. It\u2019s also very close to ongoing developments, including State-owned energy firm YPF\u2019s Bajo del Toro block.<\/p>\n

The province of Neuqu\u00e9n, local news outlet El Constructor<\/em> reports<\/a>, is close to finish details for the tender, but it \u201cwill wait for the right moment\u201d to start the bidding process.<\/p>\n

Argentina was an early player in the world of oil and gas, founding oil and gas company YPF in 1907. In recent years it has confirmed its potential with the world\u2019s second-largest shale gas reserves and the fourth-largest shale oil reserves, concentrated in the Vaca Muerta formation.<\/p>\n

Argentina’s Permian Basin<\/strong><\/h2>\n

The success of Vaca Muerta, often compared to the Permian Basin in the United States based on its vast potential, is key for the South American nation. Argentina has tried and failed for decades to break free of cyclical crises and is grappling with inflation above 50% and a $100-billion pile of sovereign debt.<\/p>\n

Argentina had hoped that its giant Vaca Muerta oil and gas deposit might help it to emulate the US shale boom. Increasing demand for renewables over oil and gas, paired with the global collapse of crude prices, threaten to shatter Argentina\u2019s energy dreams.<\/p>\n

Oil prices suffered their biggest fall in early March since 1991, when US forces launched air strikes on Iraqi troops following their invasion of Kuwait.<\/p>\n

They\u2019ve slightly recovered in the past two weeks, touching $40 a barrel on Wednesday, the first time in three months.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Vaca Muerta formation holds the world’s second-largest shale gas reserves and the fourth-biggest shale oil reserves.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1035,949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1188612"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1188612"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1188612\/revisions"}],"predecessor-version":[{"id":1188701,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1188612\/revisions\/1188701"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1188612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1188612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1188612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}