leaning into Argentina’s shale growth opportunities

For more than a decade, Chevron has been pursuing oil and gas resources in Argentina’s Vaca Muerta Formation—and it’s not about to stop.

Chevron expects the region to have a larger role in its portfolio in coming years.

“We remain focused on Argentina and Vaca Muerta, where today we have an enviable unconventional resource position that can be scaled into a core asset within a relatively short time frame,” said Javier La Rosa, previously managing director of Chevron Latin America, now president of Base Assets and Emerging Countries.

Chevron’s presence in Argentina was recently detailed in an Energy Intelligence article, which noted that while some other operators are scaling back their Argentina operations, Chevron is leaning in.

Here are some takeaways from the full Energy Intelligence article (the linked article is subject to a subscription/paywall restriction):

• Industry crude production in Vaca Muerta is estimated to reach 1 million barrels per day by 2030.
• Chevron’s operations in Vaca Muerta have made “significant progress in the past decade by rapidly adopting innovations and improvements from the Permian as a fast follower,” La Rosa said.