On 30 April 2018, Gas y Petroleo del Neuquen (GyP Neuquen) reported that the company awarded six blocks through the "Neuquen Exploratory Plan" series of bid rounds. Small operator Selva Maria Oil SA was granted rights on La Tropilla II and Huacalera Norte blocks. Selva Maria investments committed for the two blocks are US$ 17.1 million. Selva Maria in February filed offers for 5 areas. GyP had originally rejected the offers based on high acreage concentration criteria. GyP Neuquen considered that the company would exceed the maximum value of 250 sq km per company stipulated by the plan if they accepted those offers. The Selva Maria offers totaled 793 sq km. Selva Maria holds the La Brea license in the Jujuy province (Oran Olmedo Basin) and was recently awarded the Mata Magallanes Block in the San Jorge Basin. The entire Neuquen Exploratory Plan involves 50 blocks. Many important players like Chevron were said to be interested in various prospects. Chevron was awarded the Loma del Molle permit in October 2017 with a US$ 22 million investment commitment. These offered areas are inactive oil and gas blocks offered every three months through bid rounds or private initiatives. Bids in the Neuquen province will maintain the current system where GyP Neuquen retains a portion of the contract on a carried basis although the new federal hydrocarbon law has limited this practice. The blocks in the plan are currently reserved for GyP Neuquen as the sole rightholder. Some of these blocks have unconventional potential. For more information please email planexploratorio@gypnqn.com.ar or call +54 299 5678200.
Argentina, Huacalera Norte