Rio Negro E&P Bidding Rules Attract 11 Buyers

Eleven companies have purchased bidding rules to date for the E&P of seven oil blocks in the Neuquen basin of Argentina's Rio Negro province, the provincial government said in a statement.

The companies that have purchased bidding rules are Spanish oil major Repsol YPF (NYSE: REP), Brazil's federal energy company Petrobras (NYSE: PBR), Canadian oil company Petrolifera Petroleum (TSX: PDP), Anglo-Argentine firm Pan American Energy (NYSE: PAE), the Argentine subsidiary of US firm Vintage (NYSE: VPI) and local firms Pluspetrol, Interenergy, Tecpetrol, Petrolera Entre Lomas, Compania General de Combustibles (CGC) and Oil M&S.

The blocks are Agua Amarga, Aguada de Córdoba, El Cuy, Lago Pellegrini, Meseta Baya, Vaca Mahuida and Villa Regina.

The province will continue selling bidding rules through March 20 and open technical offers the following day.

The province likely will open economic bids April 26 and award the blocks from May-June, provincial hydrocarbons department director Tamara Perez Balda told BNamericas.

The blocks closer to Lago Pellegrini are more likely to produce gas, Balda said.

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

Related Companies
 Company: Petrobrasmore info


 - Statoil Acquires Petrobras' Operated Interest in BM-S-8 Offshore Brazil (Nov 23)
 - Petrobras To Review Workers Profit-Sharing Pact (Nov 22)
 - Petrobras Says Injunction Suspends Sale Of Bauna And Tartaruga Verde Fields (Nov 21)
 Company: Repsol more info
 - Poll: US, Foreign Oil Companies to Prosper in Trump's USA (Nov 10)
 - European Industry Says Trump Must Define Energy Policy (Nov 9)
 - Repsol Raises Cost-Savings Target, Cuts Investments (Nov 3)
 Company: Vintage Petroleummore info
 - Bolivia: Four Companies Operating Under New Contracts (Jun 27)
 - Meridian: On Track with Business Plan (May 9)
 - Rio Negro E&P Bidding Rules Attract 11 Buyers (Feb 20)
 Company: Pluspetrolmore info
 - Pluspetrol Interested in Bidding on Peru's Biggest Oil Block (Feb 11)
 - Argentina's Pluspetrol to Buy Apco Oil and Gas for $427 Million (Oct 3)
 - Pluspetrol Says Protests Stop 70% of Output from Peru Oil Block (Apr 25)
 Company: Pan American Energymore info
 - Pan American Energy to Invest $1.4B in Argentina this Year (Jul 14)
 - Official: Argentina To Boost Crude Oil Output To 653,000 Bpd By 2025 (May 27)
 - Pan American Energy to Invest $3.4B in Argentina from 2013-2017 (Dec 28)
 Company: Petrolifera Petroleummore info
 - Gran Tierra to Acquire Petrolifera (Jan 18)
 - Petrolifera to Start Gas Production at Brillante Well (Nov 11)
 - Petrolifera Wraps Up Long Term Test in Colombia (Sep 21)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Executive Director
Expertise: Business Development|Executive|Project Management
Location: Houston, TX
 
Associate Product Portfolio Manager Job
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Sr Counsel - Litigation and Legal Technology
Expertise: Legal
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours