Drilling in the Vaca Muerta
Argentina poised to surpass record oil production
Imminent midstream additions in the Vaca Muerta set the stage for sharp jump in upstream growth
Argentina’s oil output ended last year at its highest level in more than 20 years and, in 2025, looks set to eclipse the record set almost 30 years ago. Production topped 702,000b/d last year as domestic gas also exceeded 50bcm, the highest level posted since 2006. Argentina’s previous all-time record for oil production was just shy of 847,000b/d, set in 1998. This year, midstream takeaway additions will sharply lift growth in the Vaca Muerta shale play and likely breach the previous high before 2026. In 2024, Vaca Muerta output accounted for a 54.9% share of Argentina’s oil production and 50.1% of its gas. “Midstream capacity will be key in determining how much production growth Argentina s
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