Harold Hamm Doubles Down on Vaca Muerta With US$4 Billion Investment
U.S. shale pioneer expands Argentina strategy as Vaca Muerta emerges as one of the world’s most closely watched energy plays
Argentina’s Vaca Muerta shale formation is attracting another major wave of international capital, with U.S. oil billionaire Harold Hamm preparing to invest approximately US$4 billion over the next five years through his company, Continental Resources.
The commitment represents a major expansion of Hamm’s strategy in Argentina and reinforces Vaca Muerta’s growing importance on the global energy map. According to reports published by La Nación and the Financial Times, Continental Resources is partnering with Swiss commodities trader Mercuria and plans to acquire a 50% stake in Phoenix Global Resources, which is controlled by Mercuria. The combined operation is targeting production of around 100,000 barrels of oil per day by 2031.
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