The Cañadón Asfalto Basin is an irregularly shaped sedimentary basin located in north-central Patagonia, Argentina. The basin stretches from and partly covers the North Patagonian Massif in the north, a high forming the boundary of the basin with the Neuquén Basin in the northwest, to the Cotricó High in the south, separating the basin from the Golfo San Jorge Basin. It is located in the southern part of Río Negro Province and northern part of Chubut Province. The eastern boundary of the basin is the North Patagonian Massif separating it from the offshore Valdés Basin and it is bound in the west by the Patagonian Andes, separating it from the small Ñirihuau Basin.

The Golfo San Jorge Basin is a hydrocarbon-rich sedimentary basin located in eastern Patagonia, Argentina. The basin covers the entire San Jorge Gulf and an inland area west of it, having one half located in Santa Cruz Province and the other in Chubut Province. The northern boundary of the basin is the North Patagonian Massif while the Deseado Massif forms the southern boundary of the basin. The basin has largely developed under condition of extensional tectonics, including rifting.