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Oil & Gas | Benzinga

Oil & Gas | Benzinga
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Argentina's 'Dead Cow' comes back to life as shale oil drives rebound

BUENOS AIRES, Feb 11 (Reuters) - Argentina’s ‘Dead Cow’ is roaring back to life.
Output from the Vaca Muerta region in Patagonia, which holds the fourth-largest shale oil reserves in the world, stalled during the coronavirus pandemic but hit a record high in December as producers revved up wells with an eye on rebounding prices and a new export market.
The revival of the formation that has been compared with the U.S. Permian Basin signals how it is growing more competitive globally, helped by government policies protecting oil producers, an export tax holiday and reviving global prices.
That could bring a timely injection of much needed dollars for the country’s Peronist government, which has grappled with a sharp decline in foreign reserves due to the coronavirus pandemic and a currency crisis hammering the peso. ....

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