Argentina: Rich Resource for Shale Oil and Gas Production
Hart Energy study concludes outlook is good in the medium- to long-term
HOUSTON, Aug. 7, 2012 /PRNewswire/ -- Hart Energy's newly released study, Argentine Shale: Assessment and Outlook to 2030, finds that, given supportive policies, Argentina could become one of the world's top shale and oil- and gas-producing nations.
The study, the first in a series of country-specific updates to the Hart Energy Global Shale Gas and Global Shale Oil Studies, notes of all Latin America countries, Argentina may have the largest and most prolific shale resources from source rocks in the Austral, Cuyo, Neuquen, Noroeste, and San Jorge basins. In particular, the Vaca Muerta and Los Molles shales in the Neuquen Basin appear to have enormous potential based on recent drilling results.
"Argentina would benefit greatly by developing its shale oil and gas resources," said Laura Atkins, lead author of the study. "Natural gas imports are increasing every year and oil demand is increasing such that the country could become a net oil importer over the next few years."
The report examines the economic and business environment, geology of the shales, and results from drilling activities to date. Argentine Shale also includes key shale play coverage that contains:
- geological maps
- company acreage maps
- production forecast scenarios
- infrastructure coverage
Hart Energy has developed a plausible shale oil and gas production forecast; the principle challenge is the Argentine government's pricing policies and uncertain regulatory environment. Despite this challenge, Hart Energy believes several companies will proceed with development, and production from shales will increase from very low levels today to modest levels by 2020 and could be a significant part of Argentina's hydrocarbon production by 2030.
Hart Energy provides specialized data/information products and member-only services to targeted audiences worldwide and ranks among the leading providers of news, data, and analysis for the global energy industry. Its core publishing and consulting expertise has been extended to online products (databases, maps) and services (websites, market information) as well as industry conferences and exhibitions (DUG). Hart Energy clients derive from the energy industry, the financial and investment community, engineering and automotive industries, utilities, leading NGOs, and the world's major governments.
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