Harold Hamm Bets Bigger on Argentina’s Vaca Muerta Shale Boom
Ukraine’s Drone Campaign Drives Russian Oil Refining to 24-Year Low What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Continental Resources, the company founded by shale billionaire Harold Hamm, looks to expand in Vaca Muerta as international companies vie to develop Argentina’s proven prolific shale patch.
Continental is set to bid in this year’s bid round for acreage in Vaca Muerta in the biggest auction in the basin in a decade, sources with knowledge of the plans have toldBloomberg.
The province of Neuquén, where most of Vaca Muerta is located, has launched the biggest licensing round in the shale play in a decade,offering 15 blocksup for grabs—more than double the number of blocks in the previous auction.
Interest in Vaca Muerta has increased in recent years as Argentina under Javier Milei has introduced tax cuts and other benefits for investors in the shale patch, where oil and gas production has been growing steadily for two years.
Vaca Muerta is top of the list of oil and gas companies, including U.S.
shale giants, as a de-risked basin with proven geology that’s far away from having to rely on the Strait of Hormuz or any other corridor in the Middle East to ship barrels out.Related: Exxon and Chevron’s $26.5 Billion Quarter Draws Trump’s Ire Continental Resources has had a footprint in Argentina, which the U.S.
In January 2026, Continental doubled down on its shale expansion outside the U.S.
with an acquisition of stakes infour Vaca Muertablocks.
“Vaca Muerta is one of the most compelling shale plays in the world, and we're thrilled to continue to invest in Argentina and build Continental's position through this agreement with Pan American Energy,” Continental Resources president and CEO Doug Lawlersaidat the time.
“We take a long-term view of resource development, regardless of geography.
As I like to say, 'The rock doesn't know what country it's in.'” Continental is now looking to expand its Vaca Muerta exposure in the licensing round ending this month.
Amid the global oil supply shock this year, Vaca Muerta tops the shortlist of regions where the next generation of reliable barrels will come from, analysts at Rystad Energysaidearlier this year.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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