According to reports in early-November 2017, the government of Neuquen Province has officially awarded the Las Tacanas Norte concession to Pampa Energia following the operatorâs winning bid for the block during Neuquen V Bid Round in September 2017. The 78.48 sq km Las Tacanas Norte block is situated in the Neuquen Embayment area of Neuquen Basin, adjacent to Pampa Energiaâs other block, El Mangrullo, where the company is currently targeting the tight gas play of the Mulichinco Formation. The companyâs investment plan in Las Tacanas Norte was said to be around USD 207 million, with the commitment of drilling eight Vaca Muerta Formation objective wells as well as performing studies in the area. The first exploration phase of the contract runs through 2021, with an option to renew for a second four year phase afterwards. Pending positive results, 35 years of production period will follow with an additional option for a ten year extension. Pampa Energia operates the block with 90% interest as provincial company GyP Neuquen holds the remaining 10% stake, although Pampa Energia is expected to carry all of the cost during the exploration period. Each party will pay their participating interest share for the development and production phase. However, GyP Neuquen will also have the option of converting said 10% interest into a 2.5% additional royalty from gross production instead.
Argentina (Neuquen B.) (It's a petroleum rights. Please summarize by yourself). In IHS database: El Mangrullo op. by PAMPA P (100.0%) to be check.Las Tacanas op. by YPF (50.0%, PLUSPET RS 50.0%) to be check.Las Tacanas Norte op. by PAMPA EN (90.0%, NEUQUEN 10.0%) to be check.