The government confirmed a key piece of news for the country's energy future on Monday: Continental Resources, one of the largest independent oil companies in the United States, is entering Vaca Muerta after acquiring 90% of the Los Toldos II Oeste block from Pluspetrol. The area, still in the exploratory stage, has three drilled wells and considerable potential for shale oil development.
The company belongs to businessman Harold Hamm, a historic figure in American fracking and a leading player in the energy boom that transformed the United States into an export powerhouse. Known as the "King of Fracking," Hamm met two months ago with President Javier Milei at the Quinta de Olivos, in a direct meeting that already signaled the growing interest of American investors in the new economic climate.
The transaction, reported by Pluspetrol to the National Securities Commission, will be completed once the corresponding regulatory procedures are fulfilled, including approval from the Neuquén government. The remaining 10% of the block remains in the hands of Gas y Petróleo del Neuquén (GyP), the provincial oil company.
Continental's entry comes at a time of strong repositioning in the Argentine energy sector, driven by a new political and regulatory framework that seeks to provide long-term predictability. Luis Caputo celebrated the news on X (formerly Twitter) and anticipated that this move will be imitated by other American independents that are now looking at Vaca Muerta with renewed interest.
