Schlumberger Invests in South American Shale

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Schlumberger is to invest nearly $400million in a shale field in South America.
The world’s biggest oil services provider has reached a deal with Argentina’s state-run oil company YPF SA to plough $390million in the Vaca Muerta shale field in Patagonia.
In a letter to the Buenos Aires stock exchange. YPF said a division of Schlumberger would invest the full amount and obtain a 49 percent stake in the 88.22 square mile Bandurria Sur concession.
The two companies are to develop a two-phase shale oil pilot for the scheme.