Neuquén awards eight blocks to expand Vaca Muerta exploration

Oil & Gas Journal · Camilo Ciruzzi · 2026-10-27 00:00 UTC

Combined, the winning bids represent $230.1 million in exploration investment and $180.7 million in access bonuses.

Argentina’s Neuquén province awarded eight blocks to PCR, Patagonia Energy, GeoPark, JPM Energía, the Phoenix–Continental Resources partnership, and Selva María Oil in a round intended to expand exploration of Vaca Muerta. Committed work programs include 11 horizontal wells to assess acreage outside the formation’s main commercial developments.

The awards were made Oct. 21 under Round 1/2026 of the Neuquén Exploration Plan, organized by Gas y Petróleo del Neuquén (GyP). The provincial company will retain an interest in all the blocks. The round attracted 20 bids from 10 bidders for eight of the 15 areas offered.

Petrolera Comodoro Rivadavia (PCR) secured three blocks: La Tropilla I, Águila Mora Noreste, and Santo Domingo II. Its program includes one horizontal well per block, each with a 1,500-m lateral and 25 hydraulic fracturing stages. The company will also acquire and process 3D seismic data covering a total of 380 sq km.

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