2023-09-05 03:15:00
The fracturing stages that are carried out in the Vaca Muerta wells, or more synthetically, fracking, is not only the necessary previous step to put new wells into production, but also a clear indicator of the level of activity of a shale formation such as this. In the first eight months of the year, the number of punctures increased by 17.88% in relation to the same cut last year, an encouraging figure, but which is below what had been predicted.
An analysis carried out this month on the report prepared by the country manager of NCS Multistage, Luciano Fucello, for the Contactos Energéticos Foundation, shows that in the first eight months of this year 9,566 punctures in Vaca Muerta.
This amount is a 17,88% superior to the 8,115 stages that had been completed in the same cut last year. And realize in turn that, If the trend continues, a new all-time record will be reached by the end of the year.by exceeding the total level of 2022, which was 12,521 stages.
However, when looking closely at the breakdown of the work carried out, both positive and negative points are noted. Among the positive points of this 2023 it stands out thatand there are already 11 operators that have worked in their wellswhile last year there were only 9, and let’s remember that there are 12 operators in the training.
This marks the first negative point, which is that the North American ExxonMobil has not carried out any fracturing stage so far in their wells, the last time they did this type of work in May of last year, that is, more than a year ago.
It is worth remembering that the firm put the “for sale” sign on its assets in Vaca Muerta, and is still in the process of receiving offers.
Vaca Muerta: company by company
Another aspect to take into account is who accelerated and who slowed down in the works. Between January and August of this year the most active firm was YPF (as it always is) with 4,722 punctures carried out, which not only implies that the number of stages carried out increased by 29.8% in year-on-year terms, but also increased their weight over the total number of works in Vaca Muerta, from 44 to 49%.
In second place in terms of fractures is Vista, Miguel Galuccio’s oil company, with 893 fractures. This level indicates a drop in activity of 6% in year-on-year terms. In third place is Pan American Energy (PAE) with 768 stages done, almost the same level as in 2022, when he did 754.
Fourth place went to Tecpetrol with 685 punctures made in these eight months, which marked a drop in its activity of 28.7% since last year it had added 961 stages.
Pluspetrol and Total Austral they stepped on the accelerator. The first carried out 490 stages, an increase of 41.2%, and the French one reached 487 punctures, increasing its activity by 63.42% in interannual terms.
In seventh place was Shell with 413 stages done so far this year, thus scoring in the group that hit the brakes, since its pace dropped by 43.5%.
Pampa Energy He has been fully involved since the end of last year in Vaca Muerta, so the 408 punctures he performed this year have nothing to buy in 2022. Something similar happens with Chevron which has carried out 233 fracture stages in its first year in this type of work.
Phoenix Global Resources (PGR) the firm that is behind the powerful Swiss group Mercuria, undoubtedly stepped on the accelerator, completed 287 stages so far this year and increased its work by 88.8%.
Finally, the list contains Capex with 28 punctures carried out, once morest only one that had been carried out in 2022. And ExxonMobil, which in 2022 had carried out 284 fracture stages but has not worked in its wells for more than a year.
In summary, Of the 12 operators that Vaca Muerta has, seven increased their level of work (YPF, PAE, Pluspetrol, PGR, Chevron, Pampa Energía and Capex) and four lowered it these being Vista, Tecpetrol, Shell and ExxonMobil.
If the level of activity seen so far remains fairly stable, above 1,000 monthly stages, the year will end with a historical record, although not within the values expected at the beginning of the year, since in no month was the goal of 1,400 punctures every 30 days reached.
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