Vaca Muerta Shale Boom Drives Argentina's Oil and Gas Production

Argentina's oil and gas production is booming due to the exploitation of the Vaca Muerta shale in northern Patagonia.

The country's total petroleum output reached a record high of 902,920 barrels per day in July 2026, with shale oil making up 72% of that total.

Shale gas production is also increasing, with Argentina lifting an average of 3.9 billion cubic feet per day in July 2026, which is the second-highest monthly shale gas production ever recorded.

The Vaca Muerta's geological advantages and low breakeven costs make it a compelling investment proposition for foreign drillers, with companies like Continental Resources and Chevron already investing heavily in the area.