Breakeven prices in Argentina’s Loma Campana shale field are $43 per barrel and falling while development costs are $12.90 per barrel and expected to fall to $10 per barrel by the end of 2018, an executive at state-run oil firm YPF said.
“What we are doing is profitable ... we are going to continue lowering it,” Pablo Bizzotto, executive manager at YPF’s unconventional resources unit, told journalists on a tour of the field the company operates with investments from Chevron Corp.
Loma Campana was the first productive field in Argentina’s Belgium-sized shale formation of Vaca Muerta. It produces 40,000 barrels of oil equivalent per day, according to YPF.
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