Vaca Muerta-Loma Campana model

The Vaca Muerta-Loma Campana project is an unconventional oil & gas development located in the southwest of Argentina. It started operations in 2013.

Developing the latent Stage 2 model from solely total figures was a challenge Andres Knobel successfully went through.

This page contains the Vaca Muerta-Loma Campana Fiscal Model, the accompanying narrative report, and a short-form presentation.

Main findings:

● With current low prices the project is not viable without significant subsidies from government (for gas) and Argentinian consumers (for oil).

● If cost savings exceed 25% (versus 2013 predictions), the project may be viable without subsidies.

● Government should not contemplate fiscal regime concessions unless it is clear these are necessary to make an otherwise unviable project stay in business.


Click the file to download the narrative report.

For media inquiries:
Johnny West, Director,
Olumide Abimbola, Head of R&D,

Vaca Muerta-Loma Campana Project Fiscal Model


Click on the chart to download a copy of the full model for your own use, under CC-BY-SA 4.0 license.

Supporting documents:

Interview with Andres Knobel, the modeler

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