U.S. onshore producers may be limiting annual production growth to 5% or less, but don’t tell that to Argentina’s 51% state-owned YPF SA.


The Vaca Muerta shale play in the Neuquén Basin drove a 16% year/year increase in oil and gas output to 506,000 boe/d during the first quarter for the integrated producer.

On a conference call to discuss the quarterly results, CEO Sergio Affronti touted “yet another quarter of outstanding growth within our shale operations.”

Natural gas output rose by 19.8% y/y to 38.1 million cubic meters (MMcm) or about 1.35 Bcf/day, while oil production grew 7% to 222,100 b/d.

Unconventional oil and natural gas production increased by 52% and 140%, respectively, versus the year-ago period. 

Shale production nearly doubled y/y, accounting...