Continental Resources Joins Mercuria in Major Vaca Muerta Expansion

The joint venture consolidates control over approximately 163,000 net acres across six blocks, including key assets in Mata Mora and Confluencia. By merging Phoenix’s local operational platform with Continental’s expertise in unconventional resource development, the partners plan to deploy more than $4 billion in capital over the next five years. This investment, which qualifies under Argentina’s Large Investment Incentive Regime, is designed to elevate Phoenix into one of the region's largest private energy producers.

Continental CEO Doug Lawler cited the economic reforms implemented by President Javier Milei as a primary catalyst for the company’s increased confidence in the Argentinian market. The agreement marks a deepening of the relationship between Continental and Mercuria, who are already collaborating on power infrastructure in the United States. While the deal remains subject to regulatory approvals and final contract execution, it signals a long-term commitment to establishing Argentina as a central hub for global oil and natural gas production.