Chevron uses Permian playbook to breathe life into Argentina’s ‘Dead Cow’ oil region
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Chevron plans to triple production at its El Trapial block in Argentina by early 2029.
- ✓The company aims to use its Permian experience to boost output in the Vaca Muerta region.
- ✓Country manager Ana Simonato said, "The difference is in the way that we're partnering and working together."
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
The US oil producer hopes to accelerate its goal of tripling production from Argentina, with plans to go from one to three drilling rigs at its El Trapial block by early 2029, a company executive told Reuters. Longer term, the company is working to secure government approval for its plan to spend $13.8 billion over 30 years so it can increase production at the block, one of Chevron's three projects in the formation, company officials said.
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Vaca Muerta, Spanish for dead cow, is one of the world’s largest shale basins. Output there has never reached its full potential due to Argentina's volatile economy, which has been marked by bouts of protectionism, sovereign debt defaults, hyperinflation and capital controls that made it difficult for companies to access US dollars to pay for imports.
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Reuters
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