(Energy Analytics Institute, 4.Sep.2019) — “The massive Vaca Muerta formation is geologically comparable to the best US oil basins, particularly the Permian Basin in West Texas and southeastern New Mexico, and has the potential to join the ranks of the best oil plays in the world,” Exterran Vice President Federico Medrano said during a recent webinar hosted by the Petroleum Equipment & Services Association (PESA).
However, conditions above the surface in the Vaca Muerta are not as favorable as those found in most other world class oil plays, the executive said.
“Deterrents to investment in developing the region’s vast oil and gas resources include a lack of access to proppant; infrastructure issues related to rail capacity, midstream and gas storage; labor and union issues; pressurepumping capabilities; and the macroeconomic situation in Argentina resulting from the current political environment,” Medrano said, citing data from consultancy Rystad Energy.
____________________
By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.