Repsol YPF SA’s Argentine Unit Will Require $25 Billion Per Year

Bloomberg reported that according to Repsol YPF SA’s (NYSE:REP) Argentine unit, it will require $25 billion per year to develop shale oil resources at the Vaca Muerta formation.

As quoted in the market news:

Repsol rose 3.3 percent to 21.37 euros as of 3:22 p.m. in Madrid after earlier gaining as much as 4.4 percent. American depositary receipts in Buenos Aires-based YPF climbed as much as 12 percent to $36.30 yesterday in New York and closed 11 percent higher at $35.90.

Click here to read the full Bloomberg report.