Vaca Muerta sets a new activity record
In June, activity in the formation was once again led by YPF, with a total of 886 fractures. They were followed by Argentina's Vista with 226 fractures and the U.S. company Chevron with 208 fractures
Reuters
Wednesday, 3 July 2024
Vaca Muerta, the giant unconventional hydrocarbon formation, set new record activity levels this past June, according to industry sources.
The number of fracture stages was 1,703 in the sixth month of this year in Vaca Muerta, according to a report by the Energy Contacts Foundation.
The data surpasses the previous historical record, set last April, with 1,643 fracture stages.
In June, activity was once again led by YPF, Argentina's largest hydrocarbon producer. According to the report, YPF accounted for 52% of the activity in June, with a total of 886 fractures.
They were followed by Argentina's Vista, with 226 fractures, and the U.S. company Chevron, with 208 fractures.
Other oil companies that recorded fracturing activity included Tecpetrol, Pluspetrol, Phoenix, and PAE.
Risk rating agency FIX SCR (affiliated with Fitch Ratings) highlighted in a report that the recently approved incentive regime for large investments (RIGI) "will be an incentive to boost infrastructure works for the exploitation of resources primarily focused on Vaca Muerta."
In the first five months of the year, 52% of the oil and 47% of the gas produced in Argentina came from unconventional areas.