Petrobras Completes First Import of Unconventional Gas from Argentina's Vaca Muerta

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the cheap stocks to buy for the next 5 years. On October 7, Petrobras and Pluspetrol announced the completion of the first-ever import of unconventional natural gas from Argentina’s Vaca Muerta shale play into Brazil.

This pilot shipment totaled 100,000 cubic meters and was completed on October 3, under an agreement between the two companies and their subsidiaries, Petrobras Operaciones/POSA and Gas Bridge Comercializadora. The gas was produced by POSA and Pluspetrol in Argentina’s Neuquén Basin. It was transported by pipeline that traveled through Bolivia before finally entering Brazil.

Petrobras’ upstream operations in Argentina are managed by POSA and include a 33.6% non-operated interest in the Río Neuquén field, where production comes from tight gas reservoirs in the Punta Rosada and Lajas formations.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) explores, produces, and sells oil & gas in Brazil and internationally. It has three segments: Exploration & Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies.

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Disclosure: None. This article is originally published at Insider Monkey.