BUENOS AIRES – Argentine state-controlled oil company YPF said Monday it found unconventional gas in the Vaca Muerta shale play in the southern province of Neuquen.
The La Ribera x-1 well is located about 25 kilometers (15 miles) from the town of Añelo and some 90 kilometers (56 miles) from the capital of the province, YPF said in a statement.
“This discovery raises the expectations about the wealth and productivity of the Vaca Muerta formation in areas near those currently undergoing massive development,” YPF said.
Initial tests indicate high potential for gas production, the oil company said.
This is the second unconventional resource discovery made in less than a month in Argentina.
YPF said on May 25 that it discovered unconventional oil in Rio Negro, another province in southern Argentina.
YPF announced the discovery of non-conventional oil and natural gas reserves in Vaca Muerta in 2011 after successful results in the exploration phase.