2024-01-16 03:15:00
Oil production in Argentina continues to rise and Vaca Muerta is the common factor of the trend that was consolidated last year. Among the main companies that increased their extractions the most are detected more and more non-conventional barrels.
In addition to there being companies 100% dedicated to the Vaca Muerta shalethere are others that extract a good portion of their barrels from unconventional reservoirs. This type of crude oil compensates for the decline of mature fields and allows yields to be expanded.
The most representative case is the flag oil company YPF which, in addition to leading oil production nationwide and in Vaca Muerta, currently six out of every ten barrels it operates are unconventional.
The data is official and comes from the National Secretary of Energy. Information from the consulting firm Aleph Energy was also used, processed by Power On.
The development of unconventional hydrocarbons It meant a before and after for the oil industry and the most significant milestone in the oil segment was recently reached, when the share of unconventional crude oil exceeded 51% of the total, for the first time in history.
- 675.136
- barrels per day was the total oil production of Argentina. 51% of that total was unconventional.
According to the latest official data, The country’s total production was 675,136 barrels per day. Of that volume, some 345,000 were non-conventional.
There are several companies that added barrels of this type last year, and they explain, to a large extent, this reconfiguration of the sector at the national level.
Vaca Muerta: what percentage of barrels are unconventional among the main producers
As indicated above, although there are companies that have 100% of their barrels unconventional, the one that stands out above the rest is YPF. The firm is the one that leads the activity and the one that produces the most in Vaca Muerta and nationally.
The company, which now has the former Techint Group, Horacio Marín, as president and CEO, recorded in November (latest official data) some 342,400 barrels per day operated. Of that total, some 206,000 barrels per day were unconventional. In other words, almost 6 out of every 10 barrels of the firm are from Vaca Muerta.
Pan American Energy (PAE), the Bulgheroni family firm, continues its production volume and registered a daily average of more than 106,200 barrels. Of that total, almost 20% were unconventional: something like 20,000 barrels per day.
The third position is for Vista, the company run by the exYPF, Miguel Galuccio. Despite being the youngest on the podium, It is third nationally in number of barrels and it is the first in the ranking that is 100% focused on Vaca Muerta crude oil.
- 50.500
- barrels per day was Vista’s oil production in November. 100% of his level was Vaca Muerta.
According to official reports, the company recorded a daily average of 50,500 barrels. In the first quarter of 2023, the company gave up the operation of its conventional fields and was left only with the development of its shale fields.
Fourthly, at the national level another company appears that is 100% focused on Vaca Muerta. This is the multinational Shell that averaged 28,000 barrels per day during November.
Pluspetrol closed the top five leading operators in Argentina, very close to Shell, with an average of 27,000 barrels per day. According to the data, almost 22% of its extractions were unconventional, something like 6,000 barrels.
- 28.000
- barrels of oil per day was Shell’s production. All of their barrels were unconventional.
The particularity of this company is that, in Vaca Muerta, a good portion of its oil barrels is associated with its gas extractiondue to the characteristics of the subsoil of the acreage that is under development.
The mention goes to Tecpetrol which in November recorded an average production of almost 18,000 barrels per day and almost half was unconventional. The bulk of those barrels came from Vaca Muertawith the particularity that it does not have any crude oil areas under massive development, and its level is explained by that associated with gas production in Stone Fort.
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