Billionaire Plots to Beat Chevron to Largest Latin Shale
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Argentina’s Eurnekian family, after becoming billionaires from media and airports, is planning to become the government’s first shale oil and gas partner.
Eduardo Eurnekian, tapping a fortune of at least $1.3 billion, has pledged $700 million in two deals to hasten a definitive partnership with Argentine government-owned YPF SA to develop its Vaca Muerta fields. After his $500 million preliminary accord with YPF in October, the 70-year-old last week paid about $200 million for 81 percent of Cia. General de Combustibles SA, an oil producer and shareholder in pipelines to YPF’s first operating shale-gas well.