Our Vaca Muerta development study is available for purchase . Can the Vaca Muerta compete with the best US shale plays? Findings from our latest well by well analysis indicate it can. As Argentinian operators continue to move up the learning curve strong well performance and lower costs can unlock scale comparable to US shale plays. We forecast that just seven of the most advanced developments representing only 8% of play acreage will produce over 400 000 boe/d by 2025. Our scenarios are also informed by recent high performance type curves intended to showcase the further upside waiting to be realized. Improvements in logistics and service capacity can only improve well economics and further drive play scalability. An overview of current company holdings across the gas condensate and oil windows along with drilling activity trends informs investors on the best play entry strategies. We conclude with multiple scenarios analyzing the entire play s full production potential.