Shale Stake Seized From Repsol Valued at $6 Billion, Cinco Says
Spanish oil co.’s indirect stake in Vaca Muerta shale in Argentina has value of ~$6b (4.5 billion euros) based on deal price Argentine govt struck with rival petroleum co. Chevron Corp., Cinco Dias reports. * Calculation uses Chevron’s accord this year with Argentine govt-run YPF to develop smaller acreage of shale for initial $1.24 billion, newspaper says, citing no one; govt expropriated 51% of YPF from Repsol in April 2012 * Repsol, which has said value of YPF shares nationalized by Argentina was worth more than $10b, hasn’t publicly valued YPF’s interest in Vaca Muerta shale * Repsol officials wouldn’t comment on report, co. spokesman Kristian Rix said today by e-mail