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Home › Dodgy Deals ›
Dodgy Deal
Vaca Muerta Shale FormationArgentina

Project – Active

This profile is actively maintained
Profile by:
BankTrack
Contact:

Diogo Silva, Climate Campaign Lead at BankTrack

Last update: 2025-10-01 00:00:00
The Vaca Muerta Shale Basin is located in the Neuquén Basin in Patagonia, Argentina. Photo: Wikimedia Commons (NASA Earth Observatory).

Project – Active

This profile is actively maintained
Profile by:
BankTrack
Contact:

Diogo Silva, Climate Campaign Lead at BankTrack

Last update: 2025-10-01 00:00:00
Why this profile?

Why this profile?

The exploration and extraction of the Vaca Muerta Shale Formation threaten both the rights of local populations, including the Mapuche Indigenous community, the local environment, and the global climate. It also jeopardises Península Valdés,  a UNESCO World Heritage Site. It is estimated that the total recoverable hydrocarbon resources from Vaca Muerta are equivalent to 16.2 billion barrels of oil and 308 trillion cubic feet of natural gas. Burning them would release nearly 25 billion metric tonnes of CO2, accounting for 30% of the world’s remaining 1.5°C carbon budget (80 billion tons of CO2). As the Vaca Muerta Shale Formation would release more than 1 gigaton (equal to 1 billion tons) of CO2 over its operation lifetime, it can be categorised as a ‘carbon bomb’. More than half of the oil and gas produced in Argentina in 2024 came from Vaca Muerta.

What must happen

Banks must not finance new oil and gas projects in the Vaca Muerta Shale Formation. They must phase out financing for all existing fossil fuel projects and companies operating in or in connection with the Vaca Muerta Shale Formation, on a timeline aligned with the Paris Climate Agreement. In particular: 

  1. Banks must not finance the construction of the Vaca Muerta Sur Oil Pipeline, expected to become operational by the end of 2026, as well as other planned pipelines. 
  2. Banks must not finance the planned floating infrastructure for liquefying and exporting gas extracted from Vaca Muerta. The development of this floating infrastructure will jeopardise the unique ecosystem of the San Matias Gulf, on Argentina’s Atlantic coast.
About
Sectors Oil and Gas Extraction , LNG Terminal, Pipeline Transportation of Crude Oil, Pipeline Transportation of Natural Gas
Location
Status
Planning
Design
Agreement
Construction
Operation
Closure
Decommission
Website https://desafiovacamuerta.ypf.com/

The Vaca Muerta megaproject involves the exploration, extraction, processing, transportation, and commercialisation of unconventional oil and gas from the Vaca Muerta formation. Located within the “geological and paleontological wonderland” that is the Neuquén Basin, the formation is a 30,000 km2 deposit of shale oil and gas  – about the size of Belgium. It is the second-largest reserve of shale gas in the world, and the fourth-largest of shale oil. Because of the characteristics of the rock formation encasing  the gas and oil deposits, hydraulic fracturing (fracking) is used to extract these fossil fuels, with the related risks and negative impacts.

Since exploration began in 2013, billions of dollars have poured in from around the world into exploiting shale oil and gas in Vaca Muerta. By August 2025, there were 51 concessions with commitments of more than USD 200 billion in future investments. In 2023 alone, Argentina is estimated to have received about USD 11 billion in upstream investment. Argentina offers tax and exchange rate incentives to encourage involvement in the oil and gas sector. 

The main player in Vaca Muerta is the majority state-owned company YPF (Yacimientos Petrolíferos Fiscales), although dozens of other companies, including Vista, TotalEnergies, Chevron, Equinor, BP, Shell, and Golar, are also involved. In September 2024, the oil and gas extracted from Vaca Muerta represented 58% of Argentina’s total oil production and more than 70% of its gas production.

Fossil fuel export markets for Vaca Muerta include Chile, Brazil, Uruguay, the United States and, as of 2025, India. Plans also include exports to China via the Vaca Muerta Sur Oil Pipeline, an MoU with Indian companies, and agreements with ENI for the Argentina LNG project.

Impacts

Impact on human rights and communities

Indigenous rights, FPIC, land rights, forced displacement At the heart of this project lies the dispossession, environmental harm, adverse health impacts and denial of cultural identity for local communities, including those of the Indigenous Mapuche people. The Indigenous Mapuche people is denied constitutional rights to participate in the administration of their natural resources by officials who deny their ancestral claim on the land. In 2024, the International Rights of Nature Tribunal found that oil companies in Vaca Muerta occupied Mapuche territory without the legally required Free, Prior and Informed Consent, causing their displacement. Mapuche communities have launched campaigns and protests in resistance to the projects in Vaca Muerta. 

Exclusion from consultation & decision-making, Human Rights Defenders In 2024, two Mapuche leaders were temporarily detained for questioning by authorities over their public opposition to extractive activities. Mapuche populations have also been repressed when demanding their legal status. Additionally, some opponents to the construction of facilities on Argentina’s Atlantic coast were not allowed to participate in a public hearing and at least one of them was threatened. In 2019, a German journalist was detained by the police and mistreated after taking photographs in a waste disposal area of hydrocarbon activity.

Clean, healthy and sustainable environment According to spatial data, “more than 3,000 fracking wells pose a contamination risk to local water sources, farms and population centres, threatening public health and livelihoods.” Recently approved fracking wells jeopardise drinking and irrigation water for more than half a million people. These wells are just meters away from the Mari Menuco dam, which provides water to 75% of the city of Neuquén’s population and irrigates fruit plantations (a traditional agricultural activity in the region). 

Loss of livelihoods The exponential growth of shale oil and gas extraction in Vaca Muerta has severe negative impacts on local livelihoods. Food and housing prices in the area have risen in response to oil and gas workers' higher salaries and spending capacity, which do not represent those of the local population’s majority. The population of the city of Añelo grew 65.7%, from 10,786 in 2010 to more than 17,876 residents in 2022, forcing families with few resources to the outskirts of town. This influx has also led to increased instances of crime, sexual assault cases, and trafficking of women and drugs in the area. Beyond the Vaca Muerta formation, the export infrastructure under development on Argentina’s Atlantic coast threatens the livelihoods of fishermen and tourism workers.


Impact on climate

Massive greenhouse gas emissions  Burning Vaca Muerta’s shale gas (308 trillion cubic feet, releasing an estimated 16.9 billion metric tonnes of CO2) and shale oil (16 billion barrels, releasing an estimated 7 billion metric tonnes of CO2) would devour 30% of the remaining global carbon budget to keep global warming below the 1.5C target. 

Continuing to invest in fossil fuels in Vaca Muerta also leads to carbon lock-in and stranded assets; it delays investments in renewable energy; and is potentially breaching both domestic and international law.

The operations in Vaca Muerta are also causing air pollution, releasing toxic volatile organic compounds as well as methane. Methane is not only a health hazard, but it is also about 80 times more powerful than CO2 in capturing solar radiation, significantly contributing to climate change. Emissions released by extracting and burning the record amounts of shale oil and gas stored in Vaca Muerta will further aggravate the already extreme climate crisis.


Impact on nature and environment

Pollution and related health hazards According to a 2016 categorical assessment of peer-reviewed scientific literature, hydraulic fracking has negative impacts on water, soil and air quality and on public health. This extraction method is necessary to develop Vaca Muerta’s unconventional hydrocarbon reservoirs, but it makes use of several dangerous chemicals that might be released during the process. Leaks of these chemicals have been reported at the Vaca Muerta Shale Formation, causing pollution and health hazards such as cancer, cardiovascular issues, liver and kidney issues and negative impacts on reproduction and development, amongst others. There is also a lack of transparency regarding pollution in Vaca Muerta, mainly because of insufficient legislation and insufficient law enforcement, which go hand in hand with a private sector that withholds information. The Constitutional right to a “healthful environment”, recognised by the Argentinian Constitution, is clearly being violated.

Oil spills Despite a lack of publicly accessible official records, there have been reports of numerous oil spills since the beginning of exploration in Vaca Muerta. In 2021, there was a serious spill caused by a failure of one of Oldelval’s pipelines, with 2 to 3 million litres (more than 20,000 barrels) contaminating an area close to Catriel, in the province of Rio Negro. The most probable cause of the spill was a lack of maintenance and insufficient infrastructure renewal. No works have been executed to update the infrastructure.

Toward the end of 2022, there was a spill during the drilling of a well in a field then owned by YPF and Equinor, and in 2023 there was a spill that originated in a YPF-owned pipeline that polluted private property. In late 2023 and 2024, there were spills for which the German company Oiltanking was responsible. These spills were several kilometres wide in a nature reserve, resulting in criminal complaints against the company.

The development of oil and gas terminals in the San Matias Gulf also brings with it a high risk of oil spills in the Península Valdés UNESCO World Heritage site, where 10 protected conservation areas could be adversely affected.

Poor waste management The waste generated by fracking in Vaca Muerta includes highly toxic materials, such as heavy metals and radioactive waste, and has been the subject of legal complaints due to instances of soil contamination. The amount of fracking waste (considered hazardous) originating in Vaca Muerta has been growing at a faster pace than the capacity of treatment plants – between 2023 and 2024, fracking waste grew 35.2%. Oil and gas companies and environmental officials do not publish waste information, despite reports of illegal dumping of toxic waste or disposal without prior treatment. 

Water usage High quantities of water are used to fracture rock formations in order to release oil and gas. In the Vaca Muerta area, these fracking wells are close to communities and risk contamination of rivers, schools and irrigation systems. Despite the large quantities of water used, more than 32 million litres per well per year, oil and gas companies are charged less for the water they use compared to what regular citizens pay.  Information about oil and gas water usage and impacts is not made publicly available. 

Induced seismicity Although there have been several reports, studies, media coverage, and even a dedicated observatory tracking unprecedented seismic activity induced by fracking in the area of Vaca Muerta, the relative data is not made available by the government, as authorities do not adequately track or disclose seismic activity. Induced seismicity risks damaging buildings that are not designed to withstand seismic activity. Old and abandoned oil wells and hydroelectric dams in or near the area are also at risk, as seismic activity can lead to further pollution and risk of floods. 


Other impacts

Procedural and legal concerns From the onset, the contracts and procedures that enabled the exploration of Vaca Muerta were marred by procedural and legal disputes. These include allegations of secret clauses between YPF and Chevron that enabled tax and regulatory evasion through offshore companies, and an ongoing legal dispute over the 2012 re-nationalisation of YPF that saw Argentina being fined USD 16.1 billion in damages by a US court. 

Civil Society organisations, including Greenpeace Argentina, went to court in 2022 to challenge the government of Rio Negro province for changing legislation that mandates environmental pollution protection. This amendment enables the construction of the Vaca Muerta  Sur Oil Pipeline without public consultation. 

One of the main providers of sand – a crucial input for fracking – for operations in Vaca Muerta has been charged with environmental damage, as well as money laundering and fraud against the public administration.

A CNN investigation points towards irregularities in the bidding process of the Perito Moreno Gas Pipeline (formerly called Nestor Kirchner Pipeline) that favoured Grupo Techint, and that concerned more than USD 500 million. The pipeline carries gas extracted in Vaca Muerta, connecting to another pipeline in Buenos Aires province. The case was swiftly archived.

Financiers

Banks finance Vaca Muerta operations in various ways, but mostly by financing the companies that are active in the region. This finance is made available through corporate loans, underwriting services or equity investments. Another way in which banks provide finance for Vaca Muerta operations is by working with companies on specific projects in the area. See below for more details on which banks are financing companies that have operations in the Vaca Muerta basin.

Institution type
Finance type
Year
Companies

While many companies are involved in the megaproject to explore, extract and transport unconventional oil and gas in Vaca Muerta, the majority state-owned energy company YPF is the “largest holder of inventory wells in Vaca Muerta.” 

As of August 2025, around 51 concessions had been granted by the Neuquén province government (see map or interactive map) for the exploration and production of unconventional oil and gas in Vaca Muerta, while plans are underway to expand oil and gas infrastructure for the export market.

Project sponsor

YPF

Argentina
Website
51% state-owned YPF holds the majority of concessions to explore and extract unconventional oil and gas in Vaca Muerta. During the first quarter of 2025, it produced an average of 147,000 bpd of shale oil, 31% more than the same period in 2024. YPF produces more than 46% of Argentina’s unconventional oil. In 2024, YPF bought QatarEnergy and ExxonMobil's stake in the Sierra Chata field and in 2025 the company bought TotalEnergies' stake in the Rincon La Ceniza and La Escalonada oil and gas blocks.
No companies

Other companies

Argentina LNG

Argentina
Website
Argentina LNG is a comprehensive special purpose vehicle owned by YPF, whose business includes all of LNG’s supply chain; from its extraction in Vaca Muerta, to its transportation, liquefaction and commercialisation. The business is organised in several phases. It includes the construction of an LNG pipeline that would go from Vaca Muerta to the export terminal on the Atlantic coast. It also includes the development of Floating Liquefied Natural Gas (FLNG) infrastructure on the Argentine Atlantic coast(2 vessels: Hilli Episeyo and MKII). The FLNG terminal project is led by a joint venture called Southern Energy SA. YPF holds a 25% stake in Southern Energy SA, together with Pan American Energy (30%), Pampa Energia (20%), Harbour (15%) and Golar LNG (10%). The Final Investment Decision (FID) was reached in the first half of 2025. The FLNG infrastructure is expected to have the capacity to process and export about 6 million tonnes of LNG per year. Phase 2 of Argentina LNG includes an agreement between YPF and Shell to increase LNG production and commercialisation. Phase 3 involves an agreement with ENI, with whom an FID is expected to be reached in 2026.

BP

United Kingdom
Website

Capex

Argentina
Website
Holds a concession for the Agua del Cajón field.

CB&I

United States
Website
Holds a contract to design and build a 4-million-barrel storage facility for the Vaca Muerta oil export project in Punta Colorada, Atlantic coast of Argentina. Construction is planned to be concluded toward the end of 2026.

Chevron

United States
Website
Holds concession for El Trapial Este field and has a 14% stake in the Oldelval oil pipeline. Chevron also holds a 50% nonoperated interest in the Loma Campana and Narambuena concessions.

ConocoPhillips

United States
Website
No longer active. ConocoPhillips has sold its Argentine interests to Vista Oil & Gas.

Dow Inc.

United States
Website
Holds 50% interest in El Orejano field along with operator YPF.

ENI

Italy
Profile
Website

Equinor

Norway
Profile
Website
Holds 50% stake (the other 50% held by operator YPF) in Bajo del Toro Norte and Bajo del Toro concessions. Holds a 30% stake in the Bandurria Sur concession.

ExxonMobil

United States
Profile
Website

Fluxus

Brazil
Website
Holds one concession for unconventional hydrocarbons since August 2025. Fluxus is part of the J&F group. It has announced an initial investment of over USD 20 million.

Gas y Petroleo del Neuquén

Argentina
Website
Provincial oil and gas company of Neuquén Province. It holds blocks in Vaca Muerta. The company offers blocks for sale and will usually keep a stake in awarded contracts.

Interoil

Norway
Website
Holds concession, along with Selva Maria Oil - an Argentine company - and GyP to explore Bajo del Toro Este area.

Oldelval (Oleoductos del Valle SA)

Argentina
Website
Operates an oil pipeline network (the largest in Argentina) and transports 65% of the shale oil from Vaca Muerta. YPF holds a 37% stake in Oldeval, with Pluspetrol (33%), Chevron (14%), Pan American Energy (12%), Pampa Energia (2,1%), and Tecpetrol (2%). There are a number of projects aimed at expanding Oldeval’s pipelines’ capacities.

Pampa Energía

Argentina
Website

Pan American Energy

Argentina
Website
Pampa Energia produces more than 78,000 BOE/D, of which more than 90% comes from gas. It holds concessions for El Mangrullo, Rincón de Aranda, and Sierra Chata fields. It also has a stake in TGS (Transportadora de Gas del Sur). It announced investment plans of USD 1.6 billion to enhance its shale oil production in Vaca Muerta.

Petrobas Energia

Argentina
Website

Petronas

Malaysia
Website

Pluspetrol

Argentina
Website
Holds concessions for Centanario Centro. La Calera, Loma Jarillosa Este and Puesto Silva Oeste fields. In 2024, Pluspetrol acquired all exploration assets from ExxonMobil.

Shell

United Kingdom
Profile
Website
Holds concessions for Cruz de Lorena, Sierras Blancas, Coiron Amargo SO, and Bajada de Añelo fields.

Tecpetrol

Argentina
Website
Holds concessions for Fortín de Piedra, Los Toldos 11 Este, Los Toldos Norte, Puesto Parada and Punta Senillosa and is involved in Vaca Muerta Sur Oil Pipeline.

TotalEnergies

France
Profile
Website
Operates Aguada Pichana Este, San Roque and Pampa de las Yeguas’ blocks. Produces approximately 50,000 barrels of oil equivalent per day (BOE/D).

Transportadora de Gas del Sur (TGS)

Argentina
Website
It is in charge of the expansion of the Perito Moreno Gas Pipeline (formerly called Nestor Kirchner Pipeline), which it would also operate. The expansion is estimated to start operations in 2027. The pipeline can currently transport up to 26 million cubic meters of gas per day from Vaca Muerta to Buenos Aires province. The expansion would raise such transport capacity to 40 million cubic meters of gas per day. It also owns the longest individual gas pipeline in Argentina, the San Martín Pipeline, which stretches for 4,590 km.

Vaca Muerta Sur Oil Pipeline (VMOS) Consortium

Argentina
Website
YPF has a 24.48% stake in the VMOS Consortium, which leads the construction of the Vaca Muerta Sur Oil Pipeline from Loma Campana oil field (operated by YPF) to an export facility under construction on Argentina’s Atlantic coast. The pipeline will be 437 km (271 miles) long. Other shareholders are Pampa Energia (10.20%), Pan American Energy (PAE) (11.22%), Pluspetrol (16.32%), Tecpetrol (8.16%), Vista Energy (10.20%), Chevron (8.34%), Shell (8.15%) and GyP (1.02%). Techint (same group as Tecpetrol), together with SACDE, is building the pipeline. Construction began in February 2025 and the pipeline is expected to become operational towards the end of 2026. Its expected capacity will be 550,000 barrels per day (bpd) by 2027. Subsequently, capacity is estimated to reach 690,000 bpd.

Vista Oil & Gas

Mexico
Website
As the second largest producer of shale oil in Argentina, Vista produces 120,000 barrels of oil equivalent per day (BOE/D). Since 2018, it has invested more than USD 6 billion in Vaca Muerta, where it holds 5 concessions. In 2022, Vista bought Wintershall stakes in the Aguada Federal and Bandurria Norte blocks, and, in 2025, the company bought assets from Petronas in the La Amarga Chica area (operated by YPF). In 2022, it created a subsidiary company to work on carbon capture in order to show itself as ‘carbon neutral’, in a greenwashing attempt.

Wintershall

Germany
Website
Owns 50% of the assets
No companies
Governance
Bank policies
Norms & standards
The following bank investment policies apply to Vaca Muerta Shale Formation:
Goldman Sachs
2011-08-03 00:00:00

Human Rights Statement

Bank policy
2011-08-03 00:00:00 | Goldman Sachs
2020-02-11 00:00:00

Environmental policy framework

Bank policy
2020-02-11 00:00:00 | Goldman Sachs
Morgan Stanley
2019-03-15 00:00:00

Coal and oil & gas policy statements

Bank policy
2019-03-15 00:00:00 | Morgan Stanley
2019-08-08 00:00:00

Statement on human rights

Bank policy
2019-08-08 00:00:00 | Morgan Stanley
Industrial and Commercial Bank of China (ICBC)
2021-07-22 00:00:00

Guidelines on environmental information disclosure for financial institutions

Bank policy
2021-07-22 00:00:00 | People's Bank of China
2021-09-17 00:00:00

Credit policies for domestic industries: mining, energy, oil & gas, transportation, biodiversity and agriculture

Page 12 of 2021 interim ESG report
Bank policy
2021-09-17 00:00:00 | ICBC
Credit Suisse
2019-03-05 00:00:00

Statement on human rights

Bank policy
2019-03-05 00:00:00 | Credit Suisse
2021-11-04 00:00:00

Summary of sector policies and guidelines

Bank policy
2021-11-04 00:00:00 | Credit Suisse
ING
2021-06-30 00:00:00

Environmental and social risk framework

Bank policy
2021-06-30 00:00:00 | ING

Applicable norms and standards

The National Law of Hazardous Waste (Argentina)
The Paris Agreement
Maps

Map: Existing and planned oil pipelines, exploration and production blocks in Patagonia. 

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2022-02-14
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Another oil worker crushed to death in a YPF oil field in Vaca Muerta

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Nación le baja el pulgar al gasoducto de Vaca Muerta

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Argentina’s Failing Fracking Experiment

2020-04-29 | NACLA
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Oil crash kills Vaca Muerta’s potential as the next shale hotspot

2020-04-14 | www.worldoil.com
BankTrack news BankTrack blog Partner news Partner blog

Fracking’s false hope: Why fossil fuels won’t help to repay Argentina’s national debt

The development of fracking in Vaca Muerta in northern Patagonia, Argentina, is being presented as a solution to Argentina’s debt crisis by the IMF. However, increasing fossil fuel exports will require infrastructure lock-in, involving increased foreign investment and fiscal efforts by the state, which are not fully captured in the IMF’s debt sustainability analysis
2020-04-07 | Bretton Woods Project
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banking on Climate Change – Fossil Fuel Finance Report Card 2020

New report reveals global banks funneled USD 2.7 trillion into fossil fuels Since Paris Climate Agreement, with financing on the rise each year 
2020-03-18 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
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Argentina's energy bust spawns 'ghost town' in prized Vaca Muerta

2020-02-19 | Reuters
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New legislation for Vaca Muerta on way, Nielsen confirms

2020-01-25 | Buenos Aires Times
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Vaca Muerta: Fracking leaves heavy footprint in Patagonia

2019-12-13 | Buenos Aires Times
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Indigenous Mapuche pay high price for Argentina's fracking dream

2019-10-14 | The Guardian
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Indigenous Mapuche pay high price for Argentina's fracking dream

Community tell of devastating environmental impact on land where their animals grazed
2019-10-14
BankTrack news BankTrack blog Partner news Partner blog

Vaca Muerta, the new Argentinian tragedy

2019-10-05 | Cítrica News
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Argentina's government reinforces security in Vaca Muerta shale oil zone

2019-09-17 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Political turmoil, price freeze cast shadow on Argentina's Vaca Muerta

2019-09-16 | Reuters
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IEEFA report: Argentina’s Vaca Muerta Patagonia fracking plan is financially risky, fiscally perilous

2019-03-22 | IEEFA
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Mapuche group files lawsuit against multinationals over pollution from Vaca Muerta

A Mapuche group living in Patagonia has announced they are taking some of the world’s biggest oil and gas multinationals to court for “environmental contamination” in a region close to the Vaca Muerta region.
2018-12-22
BankTrack news BankTrack blog Partner news Partner blog

Argentina economy needs fast return to energy self-sufficiency

2018-09-24 | Financial Times
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Argentina: Total sanctions the development of Vaca Muerta shale resources and increases its participation

2017-04-27 | TotalEnergies press release
Resources
Documents
Images
Videos
Links
2025-01-26 00:00:00

Avisos de resultados Tecpetrol SA

Company document
2025-01-26 00:00:00 | Tecpetrol
2023-08-31 00:00:00

Vaca Muerta Basin: An Oil & Gas Trap

IMF and global capital markets neglect the risk of ballooning Argentina’s debt and liability problem
NGO document
2023-08-31 00:00:00
2023-04-13 00:00:00

Banking on Climate Chaos 2023

Annual Banking on Climate Chaos report follows the money and details massive bank support for the world’s worst climate-destroying corporations
BankTrack publication
2023-04-13 00:00:00 | Rainforest Action Network, BankTrack, Indigenous Environmental Network, Oil Change International, Reclaim Finance, Sierra Club, Urgewald
2022-07-29 00:00:00

Vaca Muerta Basin: An Oil & Gas Trap

IMF and global capital markets neglect the risk of ballooning Argentina’s debt and liability problem
NGO document
2022-07-29 00:00:00 | Profundo, 350.org Argentina
2021-04-30 00:00:00

Watershed implications of shale oil and gas production in Vaca Muerta, Argentina

Other document
2021-04-30 00:00:00 | Stockholm Environment institute
2020-12-10 00:00:00

Five Years Lost

How Finance is Blowing the Paris Carbon Budget
NGO document
2020-12-10 00:00:00 | FARN
2017-12-31 00:00:00

Vaca Muerta Megaproject

A fracking carbon bomb in Patagonia
NGO document
2017-12-31 00:00:00 | EJES, Observatorio Petrolero Sur, Taller Ecologista
2019-03-22 00:00:00

Financial Risks Cloud Development of Argentina's Vaca Muerta Oil and Gas Reserves

Other document
2019-03-22 00:00:00 | IEEFA

Vaca Muerta projects overview

2022-08-08
Vaca Muerta projects overview - February 2017
February 2017

Equinor AGM 2023

2023-09-12 13:25:12

Fracking is Hell: Allen and the YPF Trap

YPF drilled more than 200 wells in the Allen area and since then there have been explosions, spills and various accidents. 

2023-08-24 13:23:39

Socioeconomic implications of shale gas extraction in Vaca Muerta (Central Washington University seminar)

2022-08-04 16:58:34

Case Study BOCC report 2021: Fracking in Vaca Muerta

2022-04-19 16:54:45

How fracking is taking its toll on Argentina's indigenous people

2020-02-18 17:29:38

Q&A with Lucila Crexell, National Senator for the Province of Neuquén, Argentina

Rolling Stone | Vaca Muerta: Caught between the promise of economic salvation and environmental destruction (Spanish)

Essay featuring imagery by South American photojournalist Pablo E. Piovano

Observatorio Petroleo Sur (OPSUR)

This local group is fighting for an alternative energy matrix under a framework of environmental and social justice.

Enlace por la Justicia Energética y Socioambiental (EJES)

This socio-environmental and energy justice alliance between OPSUR and Taller Ecologista raises awareness of Vaca Muerta.

350 Latin America Vaca Muerta report

Vaca Muerta Basin: An Oil & Gas Trap (Report)

IMF and global capital markets neglect the risk of ballooning Argentina’s debt and liability problem

Global Oil & Gas Exit List (GOGEL): Vaca Muerta

Updates

2022

2022-10-12 00:00:00 | Argentina accelerates Vaca Muerta megaproject gas compression plans, launches tender

Argentine state energy company Energía Argentina has put out to tender another contract associated with the first phase of the Vaca Muerta gas pipeline megaproject.

2022-07-29 00:00:00 | Extraction activity reaches all-time high in Vaca Muerta

Argentina has seen a high increase in oil and gas production its Vaca Muerta Shale Basin. According to research by Rystad Energy, this new peak is part of a wider South American trend that could see the region producing more than 300,000 barrels per day by early 2023.

2022-03-10 00:00:00 | Activity levels rising in Vaca Muerta

Global energy data analytics and SaaS technology company Enverus anticipate that activity levels at the Vaca Muerta Shale Basin will keep climbing. YPF planned to spend USD 1.5 billion in 2021, PAE (Pan American Energy) will invest approximately USD 150 million into infrastructure by mid-2023 , while Shell intends to spend USD 1 billion to drill 100 wells during 2022.

2022-02-24 00:00:00 | Argentina seeks bids to build first phase of Vaca Muerta gas pipeline

The Argentinian government has launched tenders to acquire 656 kilometres of pipes for the Vaca Muerta gas pipeline’s first stage, the construction of which is forecast for completion in approximately 18 months. By winter 2023, this USD 1.6 billion project is expected to add 24 million cubic metres of gas per day to the country's network.

When complete, the full pipeline project will have added a 1,430-kilometre-long pipeline between the Vaca Muerta Shale Basin and Uruguiana in Brazil. From there, another 600-kilometre-long pipeline to the city of Porto Alegre is planned, facilitating distribution to southern Brazil.

2021

2021-09-20 00:00:00 | ConocoPhillips ceases interests in Vaca Muerta Shale Basin

The US energy producer ConocoPhillips has sold all of its interests in Argentina to Vista Oil & Gas. A local oil producer, Vista has acquired a 50% stake in two oil concessions in the Vaca Muerta field and all of ConocoPhilips Argentina’s capital stock. Neuquén’s regional government granted these concessions, which expire in 2050.

Vista chairman and CEO Miguel Galuccio: “This is a unique opportunity to strengthen our position as one of the leading producers in Vaca Muerta. We are not only adding core assets to our existing portfolio, further enhancing our growth potential and shareholder value, but will also contribute our know-how in efficient developments, as well as safe and sustainable operations.”

2021-02-26 00:00:00 | USD 45 billion in 23rd agreement between Argentina and IMF

The International Monetary Fund has approved a new loan programme for Argentina, granting the country more time to repay a debt of USD 45 billion. The agreement includes a series of fiscal and monetary targets designed to help stabilise Argentina’s economy and widen access to international financing. If Argentina’s congress ratifies the deal, debt repayments will recommence. Full repayment is scheduled for 2034.

Vaca Muerta development plans will reduce Argentina’s gas imports, but they also require huge investment; the existing infrastructure is only suitable for some oil expansion, but not natural gas.

2020

2020-09-02 00:00:00 | Redeployment of rigs underway at Vaca Muerta

Argentina’s state-backed energy company, YPF, will be redeploying 46 rigs in the Vaca Muerta Shale Basin between October 2020 and February 2021, following a plunge in oil and natural gas production due to the COVID-19 pandemic.

2019

2019-09-17 00:00:00 | Vaca Muerta granted military police protection

Argentina’s Ministry of Security has placed the Vaca Muerta Shale Basin under the jurisdiction of the military police force, in response to growing union, environmental and Indigenous protests in the area.

2013

2013-07-17 00:00:00 | YPF and Chevron sign Vaca Muerta deal worth USD 1.24 billion

In a move intended to open up the Vaca Muerta Shale Basin to global oil and gas markets, YPF has secured its first major international investment deal since Argentina’s government took control of the energy company in 2012. Chevron’s USD 1.24 billion investment in the region is designed to be the first of many, in a bid to reverse Argentina’s declining domestic oil and gas production.

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