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Energy Companies Get New 'Gas Plus' Concession In Argentina

Date : 01/31/2012 @ 6:12PM
Source : Dow Jones News
Stock : (MM) (APAGF)
Quote : 14.15  0.0 (0.00%) @ 2:05AM
Apco Argentina share price Chart

Energy Companies Get New 'Gas Plus' Concession In Argentina

Apco Argentina (NASDAQ:APAGF)
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A consortium of companies led by Pan American Energy has been granted a new concession to produce natural gas in Argentina's Salta Province.

The Gas Plus program gives companies a financial incentive to explore for natural gas by allowing them to charge higher rates for natural gas from new discoveries.

Companies authorized to participate in the project include Pan American Energy, Apco Oil and Gas International Inc. (APAGF), WPX Energy Inc. (WPX) unit Northwest Argentina Corporation, YPF SA (YPFD.BA, YPF) and Shell unit O&G Developments Ltd., the Planning Ministry said in a statement Tuesday.

-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com

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