Continental Resources, led by billionaire Harold Hamm, has deepened its involvement in Argentina’s Vaca Muerta shale basin through an agreement with Pan American Energy (PAE) to acquire a 20% non-operating interest in four key blocks across Neuquén and Río Negro provinces. The partnership reinforces U.S. investment in Argentina’s unconventional oil sector and is positioned to accelerate development in one of the world’s premier shale formations.
Continental Resources agreed to purchase a 20% interest in the Coirón Amargo Sureste, Bandurria Centro, and Aguada Cánepa blocks in Neuquén, as well as Loma Guadalosa in Río Negro, from Pan American Energy. PAE will maintain its majority ownership and continue operating all four blocks, pending formal approval from provincial authorities. This transaction follows Continental’s November 2025 acquisition of a 90% stake in the Los Toldos II Oeste block, signaling a strategic expansion within the Neuquén Basin. Continental’s expertise, built on producing nearly 500,000 barrels of oil equivalent per day (BOEPD) in the U.S., is expected to contribute operational knowledge in risk reduction, development efficiency, and enhanced completion design to the partnership. PAE, with over 50 years operating history in Neuquén and Río Negro, currently produces approximately 100,000 BOEPD in the basin and manages six development-stage areas. The alliance aims to leverage Continental’s unconventional resource proficiency alongside PAE’s basin experience to unlock Vaca Muerta’s vast productivity potential and improve project execution efficiency.
This collaboration arrives amid significant infrastructure developments like the $3 billion Vaca Muerta Sur pipeline, connecting output to export terminals on Argentina’s Atlantic coast, and expanding Argentina’s profile as a key player in the global energy market. The deal aligns with Argentina’s goal to increase shale oil’s share in its energy mix and attract international capital for sustained growth in production capacity. Market analysts note that Continental’s involvement solidifies foreign direct investment in Vaca Muerta, critical for sustaining drilling activity and advancing Argentina’s unconventional resource commercialization. The partnership also integrates both companies’ knowledge bases, fostering innovation in operational practices and reservoir management, essential for the basin’s long-term viability and competitive positioning globally.
