New YPF find producing at 1,258b/d

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Tuesday, December 1, 2009

A new discovery made by Argentine oil company YPF in Neuquén province is producing 200m3/d (1,258b/d) of oil, a YPF spokesperson told BNamericas.

The La Caverna x-1 well on the Bandurria block began production in March and has since produced 11,000m3 of oil, the spokesperson said.

YPF has a 54.4% stake in the block. Germany's Wintershall (27.27%) and Pan American Energy (18.18%) hold the balance.

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"To put the magnitude of this in perspective, it is important to underline that a well on average through its useful life produces about 60,000-70,000m3 of oil," YPF said. "Meanwhile, La Caverna has already reached 11,000m3 in only six months."

YPF last week reported it had added 309Mboe of proven oil reserves in Argentina and that it was on track to add another 100Mboe.