Argentina + China Shale Deal

Argentina Prepares China Shale Deal to Boost Gas Reserves - Bloomberg | YPF SA, Argentina's state-owned energy company, said its next shale oil and gas partnership will be with a group including China's Cnooc Ltd. (883) China's biggest offshore energy explorer probably will sign next month a definitive deal to explore and develop deposits in the Vaca Muerta formation, either as part of its Bridas Corp. joint venture with the billionaire Bulgheroni brothers or with the Bridas-run Pan American Energy LLC, YPF board member Hector Valle said in an interview. An agreement with Cnooc and Bridas would be YPF's second binding shale partnership in the 16 months since President Cristina Fernandez de Kirchner seized control of the company from Spain's Repsol SA. (REP) Argentina is counting on companies including Chevron Corp. (CVX), which signed the first YPF shale deal last month, to help develop Vaca Muerta and boost gas reserves that now stand at just six years of consumption, Valle said.