The Neuquén-based formation reached 64% of national oil production in August 2025 and brought the country to its highest level in 27 years
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The Vaca Muerta region has established itself as Argentina's energy engine after setting a historic record in August 2025. With 64% of the national total, the Neuquén formation produced nearly two out of every three barrels of oil in the country, bringing production to 821,851 barrels per day, the highest figure in almost three decades.
This leap redefined the sector's structure and strengthened the energy trade balance, which in the first eight months of the year recorded a surplus of USD 4.59 billion, thanks to export growth.
Impact on exports and energy balance
During August, Argentine fuel and energy exports reached USD 1.056 billion, with a year-on-year increase of 40%. Crude oil alone contributed USD 305 million, driven by a 58.6% increase in volume, despite an 11.3% drop in international prices.
Vaca Muerta produce el 64% del petróleo argentino y marca récord en 27 años
The energy sector accounted for 12.9% of the country's total exports, consolidating itself as a key pillar of the national economy.
Vaca Muerta's leading role
Production in Vaca Muerta showed a 30.3% year-on-year increase, with 524,770 barrels per day in August 2025 compared to 402,706 the previous year. The month ended with 4,242 active wells, after the addition of 36 new ones compared to July.
The main operators included:
Pluspetrol, with developments in Bajo del Choique and La Calera.
Shell Argentina S.A., with significant volumes from the Cruz de Lorena well.
According to RICSA, 44 companies operated in 5 basins and 11 provinces during the month, with 28,503 active wells nationwide.
Gas production and new developments
In terms of natural gas, national production reached 157,021 thousand m³ per day in August. Vaca Muerta contributed 90,032 thousand m³, with a 7.1% year-on-year increase.
Pampa Energía's wells in Sierra Chata stood out in this segment, while Aguada de la Arena, Bandurria Sur, and Loma Campana ranked as the most productive oil fields.
YPF's role in expansion
Vaca Muerta produce el 64% del petróleo argentino y marca récord en 27 años
YPF has established itself as the main player in Vaca Muerta. In August, unconventional production reached 282,262 barrels per day, representing 75.6% of the company's total.
The state-owned company projects more than 1,800 new drillings by 2030, in addition to the development of the Argentina LNG project, with which it aims to position the country as a liquefied natural gas exporter by the end of the decade.
Global conditions and outlook
The international context shows volatile prices: Brent crude ranged between USD 65.30 and USD 86.10 in 2025, while gas (Henry Hub) moved between USD 1.72 and USD 3.05 per million BTU.
Despite this variability, upstream investment continues to rise, with a focus on Vaca Muerta shale as the epicenter of Argentina's energy future.
