Argentina’s state-controlled YPF SA plans to scale back drilling in the Vaca Muerta shale after a slide in crude prices prompted tighter capital discipline, the company’s chief executive said on 6 Aug 2025. The producer expects to remove several fracking crews in the coming weeks, tempering the rapid development that had turned the formation into one of Latin America’s most promising unconventional oil plays. Even as it pares near-term activity, YPF is consolidating its position in the basin. The company confirmed it has reached a deal to acquire Total Austral’s interests in two unconventional Vaca Muerta blocks. Financial terms were not disclosed, but the purchase gives YPF greater operational control as international partners pull back. The twin moves underscore the shifting economics facing Argentina’s shale sector: companies are curbing spending while positioning for a longer-term recovery in prices and output.