MercoPress. South Atlantic News Agency

Strategic partnership concerning Vaca Muerta announced

Hamm held a high-level meeting with President Milei in September 2025

Pan American Energy (PAE) and the US shale giant Continental Resources announced Monday a strategic partnership to accelerate the development of four key blocks in the Vaca Muerta formation.

The deal highlights the deepening involvement of US capital in Argentina's shale industry and solidifies the presence of billionaire Harold Hamm, often called the “King of Fracking,” in the Neuquén Basin.

Under the terms of the agreement, Continental Resources will acquire a 20% non-operating stake in four strategic shale oil blocks currently held by PAE.

The blocks include Coirón Amargo Sureste, Bandurria Centro, and Aguada Cánepa in the Neuquén province, as well as Loma Guadalosa in Río Negro. PAE will remain the majority partner and primary operator of all four areas.

The closing of the transaction is pending formal approval of interest transfers by the provincial governments of Neuquén and Río Negro.

Hamm's Continental Resources is a pioneer of the American shale revolution. The company enters this partnership following its 2025 milestone of producing nearly 500,000 barrels of oil equivalent per day.

“This strategic relationship seeks to accelerate the development of the four areas... Continental will contribute its know-how in risk reduction, development, and operational efficiency.” PAE CEO Marcos Bulgheroni pointed out.

Hamm, a prominent figure in the US energy sector and a significant supporter of Donald Trump, has shown increasing interest in Argentina following a high-level meeting with President Javier Milei in September 2025. Continental previously signaled its intent in November 2025 by acquiring a 90% stake in the Los Toldos II Oeste block from Pluspetrol.

With over 50 years of history in the region, PAE remains one of the most formidable players in the Neuquén Basin. PAE produces approximately 100,000 barrels of oil equivalent per day (BOED) in the basin, including 12 million cubic meters of gas. The company operates seven areas in the region, with six already in the development stage.