#United States #Oklahoma City #Vaca Muerta #Continental Resources #Pan American Energy

Continental Resources Strengthens Its Vaca Muerta Position Through New Agreement

Continental Resources, a leading name in oil and gas production, has recently announced a pivotal step forward by signing an Asset Sale and Purchase Agreement with Pan American Energy (PAE). This strategic agreement grants Continental non-operating interests in four blocks located within the Vaca Muerta shale play in Argentina's Neuquén Basin.

For decades, Continental Resources has led the charge in unconventional resource development throughout the United States, achieving remarkable feats. By 2025, the company reportedly reached a production rate of 500,000 barrels of oil equivalent per day (BOEPD), alongside capturing nearly 3 billion barrels equivalent of resources with more than 5,200 operated wells. Their success has been built on a foundation of technological innovation, stringent operational discipline, and prudent financial management, positioning the company perfectly as it seeks new global exploration opportunities.

Vaca Muerta is hailed as one of the most promising shale plays in the world, aligning ideologically and operationally with Continental’s history of innovation. This new endeavor comes on the heels of a previous agreement made in November, where Continental signed a Sale and Purchase Agreement with another Argentine producer to acquire operated interests in the Los Toldos II Oeste block. This newly forged alliance showcases Continental's commitment to expanding its presence within Argentina.

Doug Lawler, President and CEO of Continental Resources, expressed enthusiasm about the company’s ongoing investment in Argentina. He remarked, “Vaca Muerta is a compelling shale play, and we are eager to invest and build Continental's position through this relationship with Pan American Energy.” Lawler further emphasized PAE's standing as a proficient operator with deep-rooted experience in the basin, highlighting the potential for mutual learning and collaboration to drive advancements in unconventional resource extraction.

Under this agreement, Continental will be able to forge a collaborative environment where insights related to subsurface characterization, development planning, completion design, operational practices, infrastructure, and market pathways can be shared across both entities. Marcos Bulgheroni, CEO of Pan American Energy, commented on the importance of this strategic relationship with Continental Resources. He stated that the partnership aims to expedite the development of the four areas within the provinces, greatly benefiting from Continental’s accumulated expertise in de-risking and operational efficiency to unlock Argentina’s vast unconventional resources.

This milestone not only highlights the ambition of Continental Resources to foster growth within a balanced operational approach, which includes both non-operated participation and managed development but also represents their steadfast commitment to enhancing value through world-class resource participation. Lawler noted the significance of these transactions in Argentina, suggesting that they strengthen the long-term value strategy by facilitating participation in premier resources, while also accelerating the learning curve through ongoing operational exposure in such a resource-rich basin.

Continental takes a forward-thinking perspective on resource development, irrespective of geographical boundaries, with Lawler asserting, “The rock doesn’t know what country it’s in.”

About Continental Resources

Continental Resources, Inc. stands as the largest privately held producer of oil and natural gas globally, with its headquarters located in Oklahoma City, Oklahoma. The company has gained prominence for driving innovation in the unconventional resource development sector. Among significant operations, Continental is recognized as the largest producer in both the Bakken play located in North Dakota and Montana as well as in the Anadarko Basin of Oklahoma. Furthermore, their portfolio includes substantial holdings across multiple basins, situating the company as a prominent leaseholder in Wyoming’s Powder River Basin and a major position in Texas's Permian Basin.

On an international scale, Continental applies its strict technical standards and long-term developmental mindset to discover new opportunities, including a joint venture in Türkiye with the national oil company (TPAO) and TransAtlantic Petroleum aimed at developing unconventional resources in the Diyarbakır Basin, alongside its ongoing efforts to strengthen its position in Argentina’s Vaca Muerta shale play.