Argentina Oil and Gas Report - Business Monitor International - Industry Reports

Argentina Oil and Gas Report

Argentina Oil and Gas Report - Business Monitor International - Industry Reports
Argentina Oil and Gas Report
Published Oct 01, 2016
104 pages — Published Oct 01, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Our neutral outlook for prices over H--- continues to play out and we maintain our USD--.-/bbl average forecast for Brent this year. We expect significant support around USD--.-/bbl to hold and for a rebound from these levels over the coming weeks. Economic activity growth in Argentina will be driven by surging investment over the coming years. After years of underinvestment due to macroeconomic instability, interventionist government policy and a lack of access to capital markets, investment will flock to key sectors including agriculture, energy and real estate following the economy s rapid liberalisation under President Mauricio Macri. Although real GDP will contract -.- y-o-y in ---- as a result of elevated inflation and rising unemployment, increasing investment over the coming quarters will lead to a strong rebound in ----. Argentine shale prospects will be resilient in the face of volatility in oil prices as falling commercial breakevens and vast proven reserves will encourage continued investment into the sector thanks to an improving regulatory environment. Though June, state-owned YFP reported that horizontal well costs had fallen to USD--.-mn per well, representing a USD-.-mn decline versus ----.

...Data from Baker Hughes showed that there were -- total rigs drilling for oil and gas at the end of August. This is only slightly above its record low of -- in June and is a --.- decline y-o-y. ...This is only slightly above its record low of -- in June and is a --.- decline y-o-y. ExxonMobil unveiled its upstream investment plan for the Vaca Muerta shale play in April, revealing spending could reach USD--bn over the next several decades as it transfers its US unconventional strategy into the country. USD---mn is expected to be spent on pilot project in ----. ...In May, state-run YPF announced it would double down on exploration and production within the Vaca Muerta shale play, divesting its more mature conventional assets in the process. The company is working to boost efficiency and productivity to justify further drilling.

...As of year-end ----, Argentina had reserves of -.-bn barrels (bbl) of oil and -.--trn cubic metres (tcm) of gas, according to the US Energy Information Administration (EIA). The country also has a substantial unconventional resource base, with an estimated --.-tcm of technically recoverable shale gas and --.-bn bbl of recoverable shale oil. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Argentina Oil and Gas Report" Oct 01, 2016. Alacra Store. Oct 28, 2016. <>
Business Monitor International - Industry Reports. (2016). Argentina Oil and Gas Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Oct 28, 2016 from <>
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