Referred to as “Argentina’s version of the Permian Basin”, the Vaca Muerta Formation is located in the Neuquén Basin in northern Patagonia, Argentina. It is the largest shale play in the country covering a total area of 30,000 square kilometers. The first large oil discovery in the Vaca Muerta was made in 2010, but it has only been recently that oil and gas production has reached a fevered pitch.
Since early 2018, the Vaca Muerta has attracted over $165 billion in commitments from some of the largest oil and gas players in the industry as they place large bets on the future success of the shale play. This significant growth has provided increased demand for development and support services across all facets of real estate in and around the burgeoning shale play.
That is why in January 2018, ERES opened its first international office in Neuquén, Argentina. The firm expanded globally in order to provide boots-on-the-ground support to meet the increasing demand of clients operating in the highly active Vaca Muerta.