Americas Petrogas Overview of Oil and Gas Activities

Americas Petrogas has a significant presence in the oil and gas industry, with operations spanning multiple countries.

The company's focus is on exploration and production, with a strong emphasis on developing its existing assets.

Americas Petrogas has a diverse portfolio of oil and gas projects, including onshore and offshore properties.

Its operations are concentrated in countries such as Argentina, Colombia, and Trinidad and Tobago.

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ExxonMobil has a significant presence in Argentina, with a long history of operations dating back to the 1920s.

The company has a major stake in the Neuquén Basin, where it has been actively exploring and producing oil and gas since the 1950s.

ExxonMobil's activities in Argentina are primarily focused on the Vaca Muerta shale play, where it has secured significant acreage and is working to develop its resources.

In 2012, ExxonMobil announced a major investment in the Vaca Muerta play, committing to spend $1.5 billion over several years to develop its assets.

ExxonMobil's Argentine operations are managed through its local subsidiary, ExxonMobil Argentina S.A., which is headquartered in Buenos Aires.

The company's activities in Argentina are subject to the country's regulatory framework, which includes the National Hydrocarbons Secretariat (SHGN) and the Argentine Energy Regulatory Agency (ENRE).

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Americas Petrogas has specialized in drilling and discovering unconventional shale oil and gas, while also undertaking conventional exploration and production.

The company has drilled 5 Vaca Muerta shale wells, all of which were discoveries. Testing of these wells has placed them as some of the best performing of all shale wells drilled in the Neuquen Basin to date.

Americas Petrogas operates 11 large blocks in the Neuquén Basin, with almost 900,000 net acres spread over 12 large blocks. This includes 4 blocks with partner ExxonMobil, where Americas Petrogas serves as the operator.

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Americas Petrogas, a company founded in 2004, was initially focused on South America due to the knowledge and expertise of its co-founders.

The company's business partners, Barclay Hambrook and Carlos Lau, leveraged Lau's knowledge of the continent's history, politics, and business cultures to inform their decisions.

In 2004, the company considered various countries in South America for their operations, but ultimately chose to focus on Argentina due to its favorable conditions.

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Americas Petrogas employed almost 35 people in their Buenos Aires offices as of 2014, with many of them having extensive experience in the oil and gas industry, totaling over 800 combined years of experience.

The company's team had worked together in the past under Chauvco Resources Argentina and Pioneer Natural Resources (Argentina), and many had also worked for American and Canadian companies, as well as abroad.

The team's experience and expertise were crucial in navigating the complexities of the oil and gas industry in South America.

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Americas Petrogas has assembled a large land portfolio of almost 900,000 net acres spread over 12 large blocks, 11 of which the company operates.

The company has a strong management and operations team with a combined 800 years of oil and gas experience. Many of the team members have worked together in the past under Chauvco Resources Argentina and Pioneer Natural Resources (Argentina).

Americas Petrogas specializes in drilling and discovering unconventional shale oil and gas, while also undertaking conventional exploration and production in the Medanito Sur, Rinconada Norte, and Vaca Mahuida blocks.

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The company has drilled 5 Vaca Muerta shale wells, all of which were discoveries, making them some of the best performing shale wells drilled in the Neuquén Basin to date.

Ryder Scott, an independent Houston engineering firm, estimated that a Net 7.6 billion barrels of oil equivalent P50 Best Case recoverable, unrisked prospective resources attributed to the Vaca Muerta, Lower Agrio and Los Molles shales was estimated on 9 western shale blocks.

The Neuquén Basin has been assessed by the U.S. Energy Information Administrator with recoverable resources from shale of 585 TCF of gas and 20 Billion barrels of oil, making Argentina the second largest gas provider globally, after China, and the fourth largest among oil providers.

Americas Petrogas employs almost 35 people in its Buenos Aires offices and 15 field personnel, many of whom have extensive experience working for American and Canadian companies and abroad.

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Americas Petrogas has sold its subsidiary, Americas Petrogas Argentina SA, to Tecpetrol International S.A. for US$63 million in cash.

The deal was a welcome surprise for investors, causing shares of Americas Petrogas to rise up to 11% to C$0.25 cents.

Americas Petrogas will retain some interests in the subsidiary, allowing the company to expand its activities on its retained conventional and unconventional properties.

The cash from the sale will enable the company to explore new opportunities, as well as consider joint investment projects with Tecpetrol in Latin America.

Americas Petrogas has enjoyed success with its ongoing Vaca Muerta Shale exploration program, and this sale will help the company to further its goals in Argentina's Neuquen Basin.

The company operates 14 blocks covering more than 2 million acres in the Neuquen Basin, and has already made significant discoveries, including natural gas and liquids in its Aguada Los Loros well in 2013.

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