Oil Billionaire Hamm Seeks to Expand in Argentina’s Shale Patch

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessOil Billionaire Hamm Seeks to Expand in Argentina's Shale PatchUS shale pioneer Harold Hamm is moving to expand his footprint in Argentina’s Vaca Muerta oil basin, home to the world’s fastest-growing shale boom, according to people familiar with the matter.Author of the article:Jonathan Gilbert and Ignacio Olivera Doll You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — US shale pioneer Harold Hamm is moving to expand his footprint in Argentina’s Vaca Muerta oil basin, home to the world’s fastest-growing shale boom, according to people familiar with the matter.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountHamm’s Continental Resources Inc. is set to compete for shale blocks in an auction managed by Neuquen province where the lion’s share of Vaca Muerta acreage is located, said the people, who declined to be named discussing private deliberations. Bids for 15 blocks in Neuquen will be opened on Aug. 19. Continental declined to comment. The Neuquen provincial administration didn’t immediately respond to a request for comment.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againArgentine government officials and oil executives have been pitching the Vaca Muerta in Houston as they try to lure US shale producers and service companies to Patagonia as an alternative to the Permian Basin in Texas and New Mexico, where some of the best drilling acreage is running out.Fifteen years after the resources were proven viable, the Vaca Muerta is growing quickly under President Javier Milei’s free-market reforms that have attracted investments and financing after years of controls stifled build-outs.The basin already produces more than 1 million barrels a day of oil and gas. A key export pipeline and port called VMOS will be ready next year, allowing producers to ramp up crude production. Plans for liquefied natural gas shipments are also taking shape.Last year Continental became the first US shale independent to dip its feet into Argentina via a deal to acquire assets from local driller Pluspetrol SA. It did a second transaction in January to buy stakes in blocks operated by Pan American Energy Group, which is half-owned by BP Plc.Another US producer betting on Argentina is supermajor Chevron Corp., which recently decided to develop more acreage in the Vaca Muerta thanks to a Milei initiative that provides tax cuts and other benefits. Argentine officials still need to approve Chevron’s application.—With assistance from David Wethe.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.