Thirteen companies placed bids on 18 blocks in the Austral, North Argentina, and Malvinas West basins as part of Argentina’s first open bid round for offshore acreage in more than 20 years. The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. Vaca Muerta production is on the upswing. Will increasing activity propel the Argentine play to the ranks of US shale? Data suggest it is both already there and has a ways to go.