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Chevron, YPF Sees Argentina as Possible Shale-Oil Pioneer

Just as U.S. companies have revolutionized the global shale-gas industry, businesses working in Argentina have the opportunity to set new standards in shale-oil production, according to executives from Argentina's state-run oil company, YPF SA (YPF, YPFD.BA), and Chevron Corp. (CVX).YPF Chief Executive Miguel Galuccio and Ali Moshiri, president of Chevron's Latin America and African operations, said Argentina's unique geology and infrastructure give the country advantages over other shale-oil and gas producing nations."From the geological point of few, after the U.S., Argentina is No. 2. Some people say China is No. 2 but really...in terms of shale oil Argentina is No. 2," Mr. Moshiri said in a meeting with the foreign press Wednesday.Argentina's shale-oil and shale-gas reserves are located mainly in the Vaca Muerta formation, which means "dead cow" in Spanish, in the Andean province of Neuquen."The potential in Vaca Muerta is big enough to make Argentina energy independent," Mr. Moshi...

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