1st May 2025 | The Energy Circle
In February 2025, Neuquén—home to the prolific Vaca Muerta shale formation—cemented its dominance in Argentina’s unconventional oil and gas landscape. According to Oil Production Consulting, 100% of the country’s unconventional hydrocarbons now originate from the Neuquén Basin. These figures not only confirm Argentina’s regional energy weight but also signal expanding opportunities for investors and technology providers across the global upstream sector.
With total unconventional oil production reaching 71,233 cubic metres per day (m³/d) and gas output hitting 90.434 million cubic metres per day (Mm³/d), Vaca Muerta remains a cornerstone of Argentina’s energy future.
YPF S.A., the state-led energy giant, continues to drive national production. Its flagship assets—Loma Campana (14,675 m³/d), Bandurria Sur (9,476 m³/d) and La Amarga Chica (8,980 m³/d)—collectively account for over 50% of Argentina’s unconventional oil output. YPF also leads in gas, with 24,369 Mm³/d (27% of the national total), reflecting a strategic dominance that positions the company as a foundational player in the regional energy ecosystem.
Vista Energy Argentina continues its strategic ascent, producing 7,482 m³/d from Bajada del Palo Oeste, while expanding across Bajada del Palo Este and Aguada Federal.
Shell Argentina has consolidated high-value plays, with a combined output of 4,700+ m³/d from Cruz de Lorena, Sierras Blancas, and Coirón Amargo Sur Oeste—showcasing the role of international expertise in Neuquén's continued development.
In the gas segment, Tecpetrol’s Fortín de Piedra remains the most productive asset in the country at 14,632 Mm³/d, followed by Total Austral (10,839 Mm³/d, Aguada Pichana Este) and Pluspetrol (9,691 Mm³/d, La Calera). Pampa Energía, with over 13,000 Mm³/d from El Mangrullo and Sierra Chata, underscores the strength of local independent operators.
Production is heavily concentrated—93% of unconventional output comes from just 20 key assets. This poses infrastructure and logistical challenges that require urgent investment in:
Argentina’s energy transition will rely not just on geology, but on policy, capital, and connectivity—the very pillars that The Energy Circle community champions globally.
Argentina now stands as a top-tier non-OPEC unconventional producer with real export potential. With rising Asian demand, regional integration prospects (e.g., Brazil and Chile), and active LNG project development, Neuquén is fast becoming a strategic export hub for the Southern Cone.
For investors, this is a critical moment. The need for midstream infrastructure, enhanced recovery techniques, and lower-carbon production models opens the door for:
Neuquén is not only producing hydrocarbons—it’s shaping the future of energy in the Southern Hemisphere. As Argentina solidifies its role in global supply chains, it sends a clear message: the age of unconventional energy leadership is no longer an ambition—it’s a reality.
