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Project awarded to Baker Hughes based on unconventional hydrocarbon capabilities and performance
HOUSTON, TEXAS - July 26, 2011 - Baker Hughes (NYSE: BHI) announced it has completed its first unconventional hydrocarbon shale hydraulic fracturing and stimulation project in Argentina for YPF in the Neuquén basin.
The multistage fracturing operation was performed using over 12,000 hydraulic horsepower and a total fluid volume exceeding 7,000 cubic meters. Baker Hughes also provided coiled tubing services for the project. The firm was awarded the job based on its capabilities and performance in unconventional hydrocarbon plays.
YPF is currently evaluating the well results to determine the potential for expanding its operations. Several operators are developing and executing exploration plans in Argentina's unconventional hydrocarbon plays. Currently, Baker Hughes has the largest available hydraulic fracturing horsepower capability in Argentina and is well positioned with assets, people and technology to support the growing unconventional hydrocarbon activity.
"While the bulk of unconventional shale activity has been in the U.S., interest in shale plays in other parts of the world are beginning to expand and indications are that Argentina will be a promising area for international success," says Rod Larson, president of Latin American operations for Baker Hughes. "We are positioning our operations in Latin America to support this new market and we are leveraging our capabilities and lessons learned in the U.S. to help operators in Argentina develop the country's unconventional resources." Baker Hughes has been active in Argentina for more than 50 years.
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Baker Hughes provides reservoir consulting, drilling, formation evaluation, completion, pressure pumping, and production products and services to the worldwide oil and gas industry.