JAMTF...when, not if:
When oil broke $50, YPF (market cap $12.4 billion) was one of the only oil companies in the world that was still aggressively developing (Vaca Muerte)... look at how much credit Russo and Chernacov had to do with the success of YPF:
"In his last position, Mr. Chernacov had responsibility for repositioning YPF SA in the local and international capital markets, as well as overseeing $40-million (U.S.) of daily trade in YPF stock. Additionally, he was a key player in various long-term and short-term financings, raising over $3-billion (U.S.) in the past two years. His previous roles included senior positions in the upstream division in planning and portfolio management."
Edgardo Russo may be the most qualified man in Argentina to run Jagercor:
- 20 years of experience in the oil and gas industry in Argentina, mainly in YPF SA (largest integrated oil company in Argentina), and most recently working as Field Development manager for Baker Hughes.
- General Manager of YPF SP, leading more than 500 employees in operating 15 Rigs.
- Duties included operation, safety, engineering, purchasing and finance, as well as reporting to the board of directors of YPF SA.
- Operations Manager, responsible for Loma La Lata production area (Vaca Muerta shale reservoir).
- The area includes 250 Producing wells (18Mn3/d net gas and 13 kbbl/d net oil).
- He assessed conventional and unconventional reservoirs that finally recognized the productive potential of the Vaca Muerta Shale.
- At the same time he started the massive development of Tight Gas in Sierra Barrosa.
- In 2004 he was Field Manager responsible for production at Rincon de Los Sauces, Neuquen.
- In Q1, 2006 there were 200 producing wells (12000 bbl/d net oil and 1000 km3/d net gas).
- Based on Russo’s earlier production record, it’s no wonder Carlos Slim and George Soros recently invested so heavily in YPR (Slim 33 Mil shares and Soros 3.9 mil shares).
- Shell thinks that Argentina will need $300 billion to develop Vaca Muerta in a six-year period that would make the country oil sufficient starting in 2020 and will keep producing for as many as 40 years.
- Chevron anticipates investing as much as US$16 Billion on their joint venture with YPF
- Jagercor will benefit from Russo’s expertise in labor relations management, detailed knowledge of Argentina's oil basins, and a full book of relationships throughout the industry in Argentina and all of Latin America
