Vaca Muerta making moves

Argentina's unconventional oil and gas play is gaining momentum, and drawing more international interest

Argentina's Vaca Muerta shale has established itself as the leading, and for now potentially the only, viable shale play outside North America. Output has risen steadily and costs are falling as more wells are drilled. The national oil company YPF is leading development, but nearly every major has a significant foothold and is pumping money into Vaca Muerta. Start with production. The overall figure, nearly 80,000 barrels of oil equivalent per day, split evenly between gas and oil, is unspectacular but rising steadily, up 60% from the start of 2016. Most of this comes from the Loma Campana joint venture between YPF and Chevron, by far the most developed shale project in Vaca Muerta, but othe