The Hydrocarbon production In Argentina it reached levels that were considered record levels for the local industry in recent records. According to official data, total oil production reached 857.7 thousand barrels per day, while natural gas production reached 122.3 million cubic meters per day.
These figures are part of a process of sustainable expansion of unconventional development, particularly in education Dead cowwhich already accounts for about 70% of the oil and gas production produced in the country.
Vaca Muerta and the change of the productive matrix
The increasing weight of the slate consolidated a structural change in the Energy matrix. The share of unconventional oils in total hydrocarbon production has increased continuously in recent years until it now reaches a predominant share. This process positions Vaca Muerta as the country’s main energy development pole, both in oil and natural gas.
Unconventional production of crude oil has been achieved 579.8 thousand barrels per day, this represents 67.6% of the national total. Compared to the previous month, an increase of 1.3% was recorded; compared to the previous year, the increase reached 32.1%. Historically, current production is 360% higher than in February 2020 and more than three times the values observed in 2021, showing the extent of the change in the production structure.
When it comes to natural gas, the majority of the supply is also concentrated in shale. Unconventional production It was 76.6 million cubic meters per day, which is 62.6% of the national total. Although monthly production remained stable, it is well above the industry’s historical average, solidifying a high extraction plateau associated with Vaca Muerta’s development.
Oil and gas production behavior
In oil records show a slight monthly decline 0.2%, although there was a year-on-year growth of 13.6%. In the long term, current values are 62.8% higher than those of February 2020. Production, in turn, exceeds the recent annual averages, which rose from 523.2 thousand barrels per day in 2021 to 709.3 thousand in 2024.
For natural gas, production showed a monthly decline of 1.4% and a decrease of 3.9% compared to the previous year. However, due to the contribution of the unconventional segment, volumes remain in areas considered high for the historical series.
Drilling activities and operational expansion
The increase in production is accompanied by an increase in drilling activity. They signed up in November 96 wells in exploitation wella value that corresponds to an increase of 26.3% compared to the same month last year. The current level is 50% higher than the level observed in February 2020 and consistently exceeds the annual averages of the last four years.
This set of indicators shows a process with greater scale and continuitywhich made it possible to maintain the growth of non-conventional production and its impact on the entire energy system.
Neuquén as an axis of unconventional development
The province of Neuquén concentrates the main focus of activity. In terms of oil production, the province reached 590,339 barrels per day, accounting for almost 97% of unconventional oil in the province’s total production. The areas that contribute the majority of the volume include Loma Campana, Bandurria Sur and Bajada del Palo Este.
With natural gas Neuquen 81.22 million cubic meters per day were mined, of which around 90% was shale. This performance supports both domestic supply and growth in export availability during certain periods of the year, depending on internal demand and infrastructure conditions.
Industry trends and perspectives
The data for November allows us to observe a trend of continuity in the expansion of unconventional production, with a strong significance of Dead cow in the national energy structure. The combination of high drilling volumes, continued increases in shale reserves and the growing involvement of Neuquén as an operating center creates a scenario of productive predictability.
In this context, the hydrocarbon sector is heading for closure in 2025, with a majority shareholding of unconventional oil and gas, high levels of activity and a productive matrix focused on development Dead cow. This process appears to be part of a long-term cycle linked to both internal supply and the expansion of energy export capacity.
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