2024-11-05 03:30:00
development dead cow It’s still maintaining a good pace, and all that’s left is to look at the metrics between now and the end of 2024 (which is already a record) to see how much of the cap will be breached next year. activities fracturenew shale well and production Oil Currently at historically high levels, the industry has set some goals for 2025.
Oil is mined in neuquen According to the latest official data, production hit a new record of more than 446,000 bpd, close to the level expected for the province at the end of the year (see below). Meanwhile, companies are bringing nearly the same number of wells into production as they did in all of 2023, albeit in just nine months.
From January to September 2024, the company dead cow 320 shale wells have been connected, an annual increase of nearly 40%. Furthermore, there are only 10 connections left to surpass last year’s figures: a fact that fracture this year.
The formation just ended in October and the number of people dropped fracture stage 16%, setting a record low this year: 1,173. However, as the outlet expected, October’s levels were enough to break another record thanks to the industry’s momentum from the start of the year.
Vaca Muerta’s activity accelerated by 22.51%. The year will end with a new record.
From January to October this year, Training has completed 15,010 stages This broke last year’s record of 14,747 fractures. Current levels imply an acceleration in activity of 22.51%, More companies have suffered fractures in 10 months than in all of 2023.
This data is official and comes from a survey Power on According to a release from the state Department of Energy, Energy and Natural Resources neuquen. Also from the company’s monthly report NCS multi-level Special Report on Fractures and Consulting Firms Economics and Energy (E&E)who leads Nicholas Arceo.
Oil, activity and exports: developments for Vaca Muerta in 2025
Projections made by the industry earlier this year suggested that the cumulative number of fractures would reach about 18,000 by 2024. That target has now been revisited and, albeit lowered, is expected to be around 17,500 by the end of this year.
Likewise, adjusted data shows Vaca Muerta will end 2024 with a new all-time high in activity, nearly 19% higher than in 2023.
Taking into account new production capacity transportation It will be launched simultaneously with the project in the first half of next year Replica of Odelvarthe industry expects a new jump in activity by 2025.
december orderval It will add 50,000 barrels per day of production capacity and hopes to complete the expansion early next year. (Photo: courtesy)
If nothing else, a total of 24,000 fracture phases are expected to be performed next year. This number would once again break this year’s record and would also represent a strong 37% increase in activity.
This fracture prediction is a step before the wells are put into operation and is consistent with their production estimates. neuquen next year.
In an interview with this media, the Minister neuquen energy company, Gustavo MedleyTwo milestones are expected to be achieved in the short term: the first is that the province’s oil production will reach 450,000 barrels per day by the end of the year. The second one is Argentina Oil production in 2025 will break historical records.
Moreover, as mentioned earlier in this article, September production nearly 447,000 barrelswhich means one of the official predictions is about to come true. It is worth noting that some operators have made up for the restrictions on crude oil transportation by using a large number of trucks.
The historical record at the national level is nearly 860,000 barrels The country’s daily oil production reached 740,000 barrels in September, a decrease of about 120,000 barrels.
Neuquén contributed 6 out of every 10 barrels in the September total And, given that the only oil region in the country to significantly increase production is Vaca Muerta, the additional production allowed by crude oil records will have the same origin.
Estimated trade surplus in 2025
With the domestic market well supplied, the country’s new oil production will be shipped abroad. This will be the same as what we saw this year, but in larger volume.
According to reports, so far this year IndexThe energy trade surplus was about $3.7 billion, mainly due to a sharp drop in imports and a surge in oil sales. With that in mind, this year’s surplus is expected to be around $5 billion.
Join hands with new channels, neuquen basin Coupled with the integration of overseas markets next year, the industry expects the energy surplus to reach US$7.3 billion in 2025.
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**Interview with Gustavo Medley, Minister of Energy, Neuquén Province**
**Editor:** Thank you for joining us, Minister Medley. With the recent data showing that Vaca Muerta has reached production levels of over 446,000 barrels per day, how do you assess the ongoing development in the region?
**Medley:** Thank you for having me. The progress we’ve made this year is indeed remarkable. We started the year with ambitious goals, and seeing production levels close to 450,000 barrels per day is a testament to the hard work put in by everyone involved in the industry.
**Editor:** You mentioned earlier that you expect production to reach 450,000 barrels per day by the end of the year. What factors are contributing to this growth?
**Medley:** Several factors play a role. Firstly, we’re seeing a significant increase in the number of shale wells being connected—320 new wells this year alone, which is an increase of nearly 40% compared to last year. Additionally, our ongoing improvements in technology and efficiency in the fracking process have allowed us to ramp up production while maintaining safety and environmental standards.
**Editor:** The industry has set goals for further increases in production by 2025. Can you tell us about those projections?
**Medley:** Absolutely. We anticipate reaching approximately 24,000 fracture phases in 2025; that would represent a 37% increase in activity compared to this year, breaking our current records. This increased activity will boost our production capacity significantly, alongside new projects like the Odelvar replica, which is set to add an additional 50,000 barrels per day of capacity.
**Editor:** There seems to be a real momentum building in Vaca Muerta. How do you see this affecting Argentina’s energy landscape and export capabilities?
**Medley:** The growth in Vaca Muerta is not just crucial for local energy needs but also positions Argentina as a vital player in the global energy market. As we increase our production capacity, we can better meet both domestic demands and explore export opportunities, which can provide substantial economic benefits to the country.
**Editor:** what challenges do you foresee in the upcoming months as you push towards these ambitious goals?
**Medley:** Challenges are inevitable, whether it’s regulatory hurdles, global market volatility, or even environmental concerns. However, we are committed to addressing these challenges proactively and ensuring our growth is sustainable. The collaboration among companies, government, and communities is paramount as we navigate these complexities.
**Editor:** Thank you, Minister Medley, for sharing your insights on the future of Vaca Muerta and Argentina’s oil production.
**Medley:** Thank you for having me. I’m excited about what the future holds for our energy sector!
