The news gave a strong boost to shares of YPF and Vista Energy on Wall Street: the state oil company climbed 2.1%, while the company led by Miguel Gallucio was up 5%.
The sustained increase in oil production in Neuquén is mainly due to the increase in production in the areas Loma Campana, Bajada del Palo Oeste, Cruz de Lorena, Lindero Atravesado and Bandurria Sur, they added from the provincial government.
“We have gained in efficiency, lowered costs and more work. The telegrams are about hires, not dismissals. Today Vaca Muerta generates 54% of the oil and 45% of the gas in the Republic, the number of workers in construction and in the hydrocarbon sector has doubled”, highlighted the governor of Neuquén, Omar Gutiérrez.
“Today in Vaca Muerta there are the main 15 companies in the world and the learning curve meant that from 15 fractures per well that were done at the beginning, today there are 50 or 60 fractures, in wells that have a horizontal length of up to 4, 5 kilometers”said the governor.
The president added: “We have made a lot of progress, but we have to continue growing, speed up the development of Vaca Muerta to make the most of this time of transition that the world is experiencing towards cleaner and renewable energies.”
Meanwhile, gas production in September was 86.66 million cubic meters per day, which represents a year-on-year increase of 7.16 percent but a drop compared to last August of 5.4%. While in the first nine months of this year 21.1% more was produced than in the same period of 2021.
In this case, the decline is mainly explained by lower production in the Loma La Lata-Sierra Barrosa, El Mangrullo, Fortín de Piedra, El Orejano and Rincón del Mangrullo areas.
It should be noted that in September non-conventional oil explains 89.5% of the total produced in the province, while in the case of gas it was 82%.
Source: Ambito
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