Argentina’s Neuquen province hit a record for daily oil production in February, aided by increased activity in the Vaca Muerta shale formation. Crude oil production reached 381,570 bbl/d in February, up 17.6% from the year earlier and 1.8% compared to the previous month.Gas output rose 8.6% year on year in February to 89.4 million cubic meters of gas per day. Vaca Muerta holds the world’s second-largest shale gas reserve and fourth-largest shale oil reserve.Argentina is seeking to attract millionaire investments to reverse the deficit in its energy trade balance and become a global supplier of hydrocarbons through projects currently under discussion to export LNG.
March 22, 2024
SOURCE: HART ENERGY
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