Vaca Muerta, the key that opened the doors to Argentina’s oil and gas record

The Secretary of Energy of the Nation reported that the production of oil and gas of Argentina was the highest in two decades due to a strong increase in the activity of Dead Cow.

“Argentina reached levels of gas and oil production that had not been recorded since 2003,” said the organization. Maria del Carmen Tettamanti by disseminating a balance of the first year of management of the government of Javier Milei.

“In oil, the 746,000 barrels per daywhile in gas in August more than 153 million cubic meters per day were produced,” said the Ministry of Energy.

In this framework, the Government stressed that in addition the Last year’s energy surplus was US$2,758 millionbecause “exports grew by 26.8% and imports fell 55.1%”.

“In this sense, the gas production record was 25,065 million cubic meters in six months, and Argentina achieved a positive balance in its energy trade balance for the first time in 15 years”detailed the report to which he accessed Energy Report.

During October, the Neuquén formation contributed with 57% of the oil and 49% of the gas produced nationally.

How much oil Argentina produces

The production of oil in Argentina it reached 743,000 barrels per day (Mbbl/d) and marked the highest figure in the last 22 years. This milestone was achieved by a year-on-year growth of 12%.

This record is particularly due to greater activity in Dead Cow. Thus, the unconventional oil contributed 426,000 (Mbbl/d) during October, a figure similar to that of September. This segment represented 58% of the country’s total production and registered a notable year-on-year increase of 29%.

But it is also due to greater activity in the Neuquén Basin, that maintains its leadership with 70% of the country’s total oil and gas production. During October, oil production reached 519 Mbbl/da level similar to the historical record of the previous September.

How much gas Argentina produces

The gas production reached 133 million cubic meters per day (MMm3/d), showing a decrease of 10% compared to September due to seasonal factors. However, in year-on-year terms, an increase of 5% was recorded.

In this case Dead Cow It also boosted production: unconventional gas in October reached 80 MMm3/dwhich despite showing a decrease of 16% month-on-month, scored a rise 11% year-on-year. And although its share in total production also decreased, it was established at 61% of the country.