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To evaluate the partitioning of net radiation ( R) and actual evapotranspiration ( ET), measurements of R, sensible heat flux ( H), soil heat flux ( G), latent heat flux ( LE), reference evapotranspiration ( ET), transpiration ( T) and soil evaporation ( E) were taken during the 2009/2010 and 2010/2011 growing seasons on a flat and uniform olive (cv. Arbequina) orchard, located in the Pencahue Valley, Región del Maule, Chile (35°23′ LS; 71°44′ LW; 96 m above sea level). Olive trees were trained on a triangular hedgerow system with a plant density of 1333 trees ha (superintensive). An eddy covariance system, sapflow sensors and microlysimeter were used to measure ET, T and E, respectively. Results indicated that the eddy covariance measurements showed a lack of the energy balance closure of 12.8 %. Values of LE, H and G were between 28-47, 34-68 and 2-6 % of R, respectively, while ratios of T and E to ET ranged between 0.64-0.74 and 0.26-0.36, respectively. During two growing seasons, the single crop coefficient ( K = ET/ ET) was between 0.27 and 0.66, while the dual crop coefficient ( T/ ET + E/ ET) ranged between 0.26 and 0.56. According to these results, H and T were the main component of R and ET, respectively, for the particular conditions of the drip-irrigated olive orchard with a fractional cover of 30 % and wetted area of 4.5 %. [ABSTRACT FROM AUTHOR]