Argentina's Vaca Muerta Formation Holds Surprisingly Large Oil Reserves

Argentina's Vaca Muerta formation has an estimated 30.2 billion barrels of extractable oil, nearly double the previous estimate made in 2013.

This is according to a recent study by Argentina's oil and gas institute IAPG, which also found that oil production in the region should reach or surpass 1 million barrels per day by the end of 2030.

The Vaca Muerta formation accounts for around 71% of Argentina's total oil output, with major producers such as YPF, Vista Energy, and Pluspetrol leading the charge.

Rating agency Fitch director Erick Pastrana notes that to make the most of these opportunities, the sector needs to address transport bottlenecks, secure financing access, and maintain stable regulation.