Pluspetrol - Shale24

Equity analysts see Pan American Energy well positioned to capture growth in Vaca Muerta in a more demanding financial environment.

Investments

PAE kicks off 2026 with $375 million bond at 7.75% to fund Vaca Muerta and LNG

With a focus on shale development and the LNG project, the proceeds will be used to support the company’s aggressive investment plan in Argentina and to refinance existing liabilities. The bond, with an implied 11-year maturity and principal repayments in three annual installments starting in year nine, saw solid demand that allowed it to be priced in the middle of the initial book range of $300 million to $500 million.

The Neuquén Basin closed 2025 with a historic record of more than 23,000 fracturing stages, a 34% jump in productivity compared with 2024.

New record in the Neuquén Basin

Vaca Muerta closed 2025 with more than 23,000 fracturing stages, a 34% productivity jump

With 1,791 stages, December reflected a slight slowdown, coming in below the annual monthly average of 1,982 stages and well off the record set in May at 2,588. YPF continued to dominate activity with 778 stages, accounting for 43% of the monthly total.

The Los Toldos II Oeste block is located in the northern part of the Neuquén Basin, near the town of Rincón de los Sauces.

The arrival of the “king of fracking”

Continental Resources gains Neuquén approval to enter Vaca Muerta following Pluspetrol acquisition

The company had agreed to purchase 90% of the Los Toldos II Oeste block from Pluspetrol. The remaining 10% will remain under the control of Gas y Petróleo del Neuquén, the provincial company participating as a partner.

Various routes are being studied to transport Argentine gas to Brazil, all requiring investments of billions of dollars.

Projects with regional impact

Vaca Muerta: Five most studied routes to export Argentine gas to Brazil

Argentine gas exports to Brazil are already operational, albeit at modest initial volumes, with significant growth projected through 2030. Routes and methods for scaling up are under consideration.

The gas would originate in the Neuquén Basin, enter TGN’s system at Tratayén, move on to the La Mora station, and from there be shipped to Chile.

Milestone for Vaca Muerta

Pluspetrol seeks to secure gas exports to Chile for 50 years: the roadmap to monetize Neuquén’s reserves

According to the results of the bid opening for the tender launched by Transportadora de Gas del Norte S.A. at the request of Chilean power generator Colbún, Pluspetrol appears to have submitted the leading offer to secure gas shipments to Chile through 2078.

In its first phase, the pipeline will transport 220,000 barrels per day, expandable to 300,000 and eventually 500,000 bpd.

It will span 207 kilometers

Duplicar Norte: A pivotal week for Oldelval and progress on the oil pipeline set to reshape Vaca Muerta

Oldelval expects early start-up by the end of 2026. In its first phase, the pipeline will transport 220,000 barrels per day, expandable to 300,000 and eventually 500,000.

Vaca Muerta and its workers are powering Argentina’s energy surge

Vaca Muerta has become the standout driver of Argentina’s energy production

Argentina breaks its all-time oil production record: 10 key factors behind the fast-growing boom

Vaca Muerta is now the world’s second-most productive shale formation, trailing only the Permian Basin in the United States. Here are the numbers, drivers and projections behind a level of growth Argentina has never seen before.

Pluspetrol makes strong progress in Vaca Muerta

Bajo del Choique and La Calera

Pluspetrol marks new milestone in ramping up production at Vaca Muerta

Pluspetrol moves forward with its expansion roadmap, targeting production of about 100,000 barrels per day by 2027. The company aims to accelerate output.

Vaca Muerta, the geological formation in Argentine Patagonia that contains large reserves of unconventional oil and gas

YPF, Vista Energy and Pluspetrol are leading the way.

Projections for Vaca Muerta: 28,040 fracturing stages in 2026 as an indicator of sustained growth

A specialized report highlights the sector's potential and emphasizes that its activity depends not on temporary incentives, but on operational maturation. It also notes the impact on import reduction and the development of related sectors.

Vaca Muerta boosts activity in the sector

How the site evolved over the years

Vaca Muerta: why it is becoming increasingly important on Argentina's energy map

With only 7% of its reserves explored to date, the field has driven a production boom that in 2025 represents nearly 60% of the national crude oil extraction

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