It is one of the most abundant shale plays in the world, with oil reserves of up to 16 billion barrels and gas reserves of 308 trillion cubic meters—resources that could guarantee a country’s energy independence and turn it into a relevant international supplier of oil and gas. But only if the price is right. Vaca Muerta was Argentina’s hope for energy independence and even international success as an exporter of oil and gas. But that was before the oil price crash and before yet another financial crisis in the South American country that slowed energy investments. Nevertheless, Big Oil is not leaving Argentina, suggesting that there are still benefits to be reaped from a presence in the Dead Cow formation. Exxon was earlier this month granted an exploration license for a block in Vaca Muerta by the Neuquen provincial government. The news is important as the license comes […]