0812 ET - Oil production from Argentina's Vaca Muerta shale rock formation reached a record of 400,000 barrels a day in 3Q, 35% more than a year earlier, according to Rystad Energy. "Improved productivity and expanded takeaway capacity" drove up the output, the energy-focused consulting firm says. State-owned energy company Yacimientos Petrolíferos Fiscales, or YPF, accounted for more than 55% of oil production in Vaca Muerta during 3Q, while private producer Vista Energy represented more than 20%, Rystad says. "To sustain [production] growth, Argentina is investing heavily in energy infrastructure to address bottlenecks," Rystad adds, citing the ongoing construction of Vaca Muerta Sur pipeline, which is expected to cost $2.5 billion. (luis.garcia@wsj.com; @lhvgarcia)
(END) Dow Jones Newswires
December 02, 2024 08:13 ET (13:13 GMT)
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