Is Argentina’s giant shale play the next Midland Basin? in Oil & Companies News 13/06/2026 Argentina is on the cusp of a shale revolution. The Vaca Muerta in the Neuquen Basin has proved to be a world-class shale resource, setting the stage for a new era of oil and gas production growth that could last for decades. A sense that something big is unfolding pervaded my meetings with the main operators in Buenos Aires last month. The parallels with early-stage US unconventionals are unmistakeable – for the Neuquen Basin Argentina 2026, think Midland, Texas 2010. The timing is perfect as buyers of oil and LNG seek to diversify supply sources away from the Middle East. Pietro Ferreira and Ryan Duman (Upstream) and Kristy Kramer (Gas and LNG) shared six insights on an opportunity that could be transformational for the Argentine economy. First, the resource is top tier High-quality rock gives the Vaca Muerta sweet spots high productivity for both oil and dry gas. NPV10 breakevens are similar to the best US plays at around US$35/bbl for the black oil window and under US$2/Mcf for dry and wet gas. The Vaca Muerta has largely caught up on well performance metrics with comparable US plays, even in these early stages of development. But wells are 50% more expensive to drill and complete than in the US, for a number of reasons – not least, limited service-sector capacity. Lower drilling density and technical challenges – such as high reservoir temperatures, which require specialist equipment – are contributory factors. Strengthening the supply chain is essential to maximise production and minimise costs. Second, politics and regulation are supportive The election of President Javier Milei in November 2023 has dovetailed with the technical advances. The government is in the process of establishing a legal framework to alleviate investor concerns. Its economic motivation is clear – the Vaca Muerta could turn Argentina’s current energy trade deficit into a surplus. The RIGI fram