Argentina Notches Record Shale Production, Backed by Vaca Muerta Boost

Unconventional oil production in Argentina saw a 57% jump from the same time last year. Shale gas production, meanwhile, saw a year-on-year increase of 39%.

Reuters

Argentina’s output of oil and gas from shale rose to record levels in May, the government said on June 21, bolstering hopes that its massive Vaca Muerta shale formation can help reverse a costly energy deficit that has strained public coffers.

Unconventional oil production averaged approximately 241,000 bbl/d, a 57% jump from the same time last year. Shale gas production, meanwhile, averaged approximately 76 million cubic meters per day, a year-on-year increase of 39%.

“We have a constantly growing sector, thanks to the strong boost we gave Vaca Muerta,” Energy Secretary Dario Martinez said in a statement.

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