Vaca Muerta oil EUR is down 15%. What’s behind the decline?

Oil EUR per 1,000 feet of lateral has fallen 15% since 2021, yet remains nearly double the Delaware Basin. Is tighter spacing to blame, or has development shifted into less productive acreage? Enverus Intelligence® Research (EIR) tested both explanations against well and spacing data.

What the research found

  • Oil EUR per 1,000 feet of lateral has stabilized at about 115 Mbbl per 1,000 feet since 2023, after declining from 130 Mbbl per 1,000 feet in 2021.
  • Vaca Muerta remains nearly twice as productive as the Delaware Basin on this measure.
  • EIR finds little evidence that tighter spacing or delayed development explains the decline. Its analysis points instead to operators moving into shallower, less productive acreage.

How Financial Markets teams use this research

A basin-wide average may not reflect the locations behind a specific investment or transaction. Use the report to test what the productivity trend means for your assumptions:

  • Private equity teams can compare depth-level productivity with the acreage assumptions behind a platform valuation.
  • Investment banks can give buyers and sellers operator- and depth-level context for production trends.
  • Hedge funds and traders can test whether the decline has stabilized and assess spacing-related supply assumptions.
  • Long-only investors can benchmark Vaca Muerta productivity against the Delaware Basin.

 

What the full report adds

  • Oil EUR comparisons across basins and over time, with trends by operator and well depth.
  • The spacing analysis behind EIR’s findings, including cases of delayed development.
  • An associated Enverus Prism workbook with models tied to the research. Workbook access may require Prism credentials.

About Enverus Intelligence® | Research, Inc. (EIR)

Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations, and macroeconomic forecasts and helps make intelligent connections for energy industry participants, service companies, and capital providers worldwide. See additional disclosures here.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Ready to Subscribe?

Ready to Get Started?