Argentina’s Oil Production Nears 700,000 Barrels Per Day

The Secretariat of Energy reported another increase in oil and gas production, along with higher fuel exports.

Due to strong activity in Vaca Muerta, oil production increased by 8.8% year-on-year in May, while gas production rose by 11.4%, according to official data published by the Secretariat of Energy.

“Production continues to rise: in addition to year-on-year growth, positive figures were recorded in May compared to previous months,” stated the department led by Eduardo Rodríguez Chirillo on social media.

It was reported that 692,900 barrels of oil were produced daily, representing an increase of 0.2% compared to the previous month.

Meanwhile, 150.2 million cubic meters of gas (Mm³/day) were produced daily, marking an 8.4% increase compared to April 2024.

According to official data accessed by Energy Report, unconventional oil extraction accounts for 93.6% of total production, while 88.15% of gas production comes from the same source. This is explained by the shale boom in Vaca Muerta.

Vaca Muerta continues to maintain a high level of fracturing stages, completing 1,582 stages in the shale segment in May, ranking it among the top three in terms of activity.

In this context, May was only surpassed by April, which set a record with 1,694 perforations, and March, which had 1,643. With the operation of the tenth fracturing set, the level of activity increased in the last quarter.