Vaca Muerta gains strategic weight as Neuquén prepares gas expansion

SLB, Baker Hughes, and Halliburton announced they will not participate nor foresee participating in bidding processes linked to hydrocarbon projects in the Falkland Islands. The announcement came following measures promoted by the Argentine Government in response to the advancement of the Sea Lion project.

The three companies play a central role in fracturing and well completion services in Vaca Muerta. During 2026, SLB and Halliburton concentrated 73.4% of fracturing operations conducted in the formation, with 14,109 stages, according to data reported in the survey.

The episode underscores the strategic importance Vaca Muerta has acquired for Argentina. The formation is undergoing a stage of productive expansion, infrastructure development, and growing export prospects, with projects that could bring the country into the global liquefied natural gas market during the next decade.

Neuquén targets the gas window

In parallel, Gas y Petróleo del Neuquén is planning to launch the second round of the Neuquén Exploration Plan toward the end of November, oriented toward the gas window of Vaca Muerta. Bid submission is scheduled for April 2027.

The first 2026 call included 15 areas and received 20 proposals from ten bidders for eight blocks. The new round will gauge company interest in extending to natural gas an investment dynamic that has so far been driven primarily by oil, accompanied by the advance of VMOS and Southern Energy's liquefaction projects.

Hydrocarbon development has also reshaped Neuquén's economy. The sector accounts for 35.7% of registered private sector payroll, though it comprises 16% of formal workers. Between November 2023 and March 2026, the province's real private sector payroll grew 9.9%, while other sectors tied to oil activity also recorded increases.

With information from Mejor Energía.