Miguel Galuccio has set a new trend in Vaca Muerti, creating Aleph, the first slate-focused service company. He formed an investment agreement between his oil company Vista and the Riverstone and Southern Cross investment funds. The company seeks to provide services to all development companies in the Neuquen basin.
Galuccio grew up in 2017 and today has intense activity focused on extracting oil from Vaca Muerta, while Riverstone and Southern Cross Group are private investment companies with a successful experience in creating independent companies.
"It is my pride in continuing to contribute to the development of Vaca Muerta in this new phase that opens into the Neuquén pool. As we made the first steps in 2012 with the agreements of Chevrone, Petronas and Dow, and in 2018 we unpacked Vista, the first independent public a company that has already invested more than $ 1000 million in the country, is now being re-betrothed with the creation of Alefa, which marks before and after the middle segment, "said former YPF president when he announced the creation of a new company.
"Achieving a ladder in the basin requires better equipment, technology and infrastructure, and this is the fundamental evacuation and processing of crude oil, with independent companies, 100 percent focused on this segment." prevails in flourishing unconventional in the United States, following the massive development of slate games, he added.
Aleph joins the medium-sized Riverstone portfolio, which together with the Southern Cross Group invests up to $ 160 million in exchange for a joint venture of up to 78.4%. Vista contributes to a large part of its medium flow property, located in the Neuquen basin, worth $ 45 million, in exchange for 21.6%.
Riverstone is one of the largest private equity fund focused around the world's energy sector and a benchmark for North America, while the Southern Cross Group is one of the largest funds in Latin America, the pioneer of private equity. in Argentina.
During the month of July this year, Aleph will begin designing and building the necessary infrastructure for capturing, processing and evacuating the Neuquen pool shade maker, which he can attract. Among them, Vista stands out and already has preliminary agreements with other manufacturers in the area. Aleph will be chaired by Juan Vaquer and a management team with long experience in the sector led by his Managing Director Manuel Aguirre.
Create Alefa attempts to replicate the business model developed by the United States in its shadow formations, where the transfer of infrastructure requirements to third parties enabled rapid growth of production, and crude oil and gas producers, allocated from capital to higher-yield investments.
This investment was presented to the authorities of the provinces of Ro Negro and Neuqun. Vista is a Latin American company based in the Mexican Stock Exchange, with conventional and unconventional assets in Argentina and Mexico, whose investment is geared towards Vaca Muerta and expects to produce 65,000 barrels of oil by 2022.
Riverstone is one of the world's largest private-sector energy-focused private equity companies with a stock of approximately USD 39 billion and whose ordinary shares are listed on the London Stock Exchange under the RSE symbol. He has significant experience in the Middle East, especially in North America, where he has invested in several companies, including Kinder Morgan, Buckeye Partners, Magellan Midstream, Lucid Energy, Meritage Midstream II and III, PVR Partners and USA Compression.
Southern Cross is a private investment company founded in 1998 with the aim of creating high-value investments in Latin American companies. He is one of the pioneers of private capital in Argentina and invests his fifth fund, which has a $ 700 million commitment.
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