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Basins

Argentina’s geologic profile is comprised of 19 sedimentary basins, only five of which are currently producing oil and gas, providing E&P companies with long-term evaluation and expansion of oil and gas opportunities. The five producing basins include the Neuquén Basin, Golfo San Jorge Basin, Austral Basin, Noroeste Basin and the Cuyana Basin. Of these five basins, the Neuquén and Golfo San Jorge Basins represent the vast majority of Argentina’s oil production and proven reserves while the Austral Basin is considered a more prospective, high-impact, natural gas exploration play.

While the Neuquén and Golfo San Jorge Basins are considered to be mature in relation to the other Argentine basins, they are under-drilled when compared to mature basins in other regions on the basis of well spacing. Consider the Texas Anadarko and Permian Basins as an example. The Anadarko Basin has one well drilled every 2.6 square miles and the Permian Basin has one well drilled every 1.7 square miles. In comparison, Argentina’s Neuquén Basin has one well drilled every 14.3 square miles, the Golfo San Jorge has one well drilled every 27.1 square miles and the Austral Basin has one well drilled every 34.7 square miles. This provides oil and gas companies with significant exploration and development upside opportunity in a country that is significantly under-drilled and under-developed compared to the U.S.