Chevron, YPF Agree To Pilot Program For $15B Shale Deal

Law360, New York (December 20, 2012, 7:15 PM EST) -- Chevron Corp. on Wednesday agreed to terms with state-run Argentine oil company YPF SA to establish a pilot program that would advance a contested multibillion-dollar deal in which Chevron seeks to invest billions in the country’s shale-oil resources.

YPF CEO Miguel Galuccio and Chevron Latin America Chief Ali Moshiri signed a letter of intent in Houston on Wednesday for a shared $1 billion investment in a 100-well pilot program in the Vaca Muerta formation, a deal that figures to be the first step toward an eventual...
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