Analysis by Energy Workforce President Tim Tarpley
For the past six years, EWTC has worked to support our member companies that operate in Argentina through our Latin America chapter based in Buenos Aires and we have also partnered with the US Department of Commerce and the Argentina Texas Chamber of Commerce on a number of initiatives to help bring in US OFS companies to fill additional service needs in the market. Throughout these years of work, now is perhaps the most promising time for the Vaca Muerta region and perhaps the most opportunities available for EWTC members.
The numbers are impressive. The Vaca Muerta play is estimated to hold the world’s second-largest shale gas and fourth-largest shale oil resources. The US Energy Information Administration (EIA) estimates it contains recoverable volumes of 308 trillion cubic feet of gas and 16 billion barrels of shale oil, with less than 10% of the play currently under development. Argentina has worked hard to create a new investment framework, known as RIGI, which has sparked a wave of capital commitments to Vaca Muerta exceeding $30 billion. In May, Argentina’s average monthly crude oil production was 892,235 bbl/d, up 18.1% from the same month in 2025. The natural gas numbers tell a similar story: in May, Argentina produced 5.6% more gas than the year before, with additional production increases expected to support the potential for LNG export projects in the future.
US shale companies have started to seize the opportunities. Continental Resources, which, aside from a small project in Turkey, has been primarily a US shale-focused company throughout its history, expanded its position in Argentina in January by acquiring non-operating positions in four blocks held by Pan American. This expansion is on top of another deal struck last November, under which Continental agreed to acquire an operating stake in the Los Toldos II Oeste block.
What are the service needs in Argentina? Operators are increasingly looking to deploy digital frac fleets and manage pressure-drilling technologies to keep costs low. A number of EWTC companies have signed recent agreements in the region along these lines. Additionally, super-spec drilling rigs are in short supply in the region and with planned additional expansion, this need will likely grow. Midstream and LNG infrastructure is also expected to be a growth area with massive pipeline projects under construction, such as the Vaca Muerta Sur crude pipeline and the LNG export infrastructure in Rio Negro province. These projects are driving demand for LNG infrastructure and gas compression services and related industries.
There will be a number of chances to explore opportunities for EWTC companies in the region in the coming months. First, on July 30, EWTC will be supporting ATCC in hosting a webinar, “Unlocking Vaca Muerta: Supply Chain Opportunities for the Oil & Gas Industry”. This webinar will provide a detailed analysis of the opportunities available in the region and the specific needs in the market. In addition, EWTC is planning on leading a trade delegation along with ATCC to Neuquen in conjunction with the 2026 AAOG Oil & Gas Expo. This delegation will meet with all local operators in the region, as well as local government officials. For information on either of these events, the EWTC Latin America chapter, or any other activities in Latin America, please reach out to Jsantos@energyworkforce.org.
Tim Tarpley, Energy Workforce President, analyzes federal policy for the Energy Workforce & Technology Council. Click here to subscribe to the Energy Workforce newsletter, which highlights sector-specific issues, best practices, activities and more.
