Chevron, YPF Team Up On $1.5B Argentinian Shale Deal

By Natalie Rodriguez (July 17, 2013, 1:49 PM EDT) -- A Chevron Corp. unit struck a deal Tuesday with YPF SA to fund the majority of a $1.5 billion shale oil and gas project in Argentina, on the heels of Repsol SA rejecting a major deal with the country that would have included a stake in the project.

Per the agreement, Chevron will inject $1.2 billion into getting the first phase of the Vaca Muerta project up and running, according to a statement. The investment will spur the drilling of 100 wells in a formation that was once controlled by Repsol through its former subsidiary YPF, before YPF was nationalized about...

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