Well productivity in Vaca Muerta

Argentina’s Vaca Muerta remains the most advanced shale play outside the US. The play has contributed to mitigating production declines in Argentina, accounting for roughly one-quarter of hydrocarbon production in the country during 2020. Increasingly aggressive well designs and higher density completion underpin the well productivity gains. Although YPF is still the most active operator in the play, private companies are gaining relevance. The development of the Vaca Muerta is still in the early stages. According to our analysis, in any single year from 2015 to 2019, more wells began production in comparable US plays than in Vaca Muerta, over the whole period. Despite the early stage nature of the play, initial results are encouraging for the future potential of the Vaca Muerta – albeit a future that requires continued gains in capex and market certainty to unlock the potential value. The main deliverable for this report is a slide pack which can be found in the downloads section.