Continental Resources, Oklahoma City, signed an agreement to acquire certain non-operated interests in Argentina's Neuquén basin from Pan American Energy (PAE).
The interests are in four blocks within the Vaca Muerta shale play, “one of the most compelling shale plays in the world,” said Doug Lawler, Continental's president and chief executive officer, in a release Jan. 5.
Continental Resources will acquire 20% of PAE's interest in Coirón Amargo Sureste, Bandurria Centro, Aguada Cánepa, in Neuquén; and Loma Guadalosa in Río Negro, according to PAE. PAE will continue as the majority shareholder and operator in all blocks.
Lawler said the company is continuing its investment in Argentina, and “eager to learn from PAE and share Continental's unconventional expertise to advance the Vaca Muerta.”
In November, Continental signed a separate agreement with Pluspetrol, which, subject to closing conditions, would see the company acquire a 90% operated interests in the Los Toldos II Oeste block in the Vaca Muerta.
Continental’s non-operating position with PAE will allow for shared insights across subsurface characterization, development planning, completion design evolution, operating practices, infrastructure, and market pathways, the company said.
Outside of the US, Continental is also a joint venture partner with Türkiye's national oil company (TPAO) and TransAtlantic Petroleum to develop unconventional resources in the Diyarbakır basin in Türkiye.
