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Continental Resources and Mercuria form joint venture in Vaca Muerta
Continental Resources and Mercuria Energy Group have announced a 50-50 joint venture in Phoenix Global Resources to expand operations in Argentina’s Vaca Muerta formation. The partnership plans to invest more than USD 4 billion over the next five years to increase production from the current 28,000 barrels of oil equivalent per day (boepd) to over 100,000 boepd.
The venture will manage approximately 163,000 net acres across six blocks, incorporating assets from Phoenix and shale oil interests from Integra Capital. This expansion follows Continental Resources' recent entry into the Argentine market through the acquisition of assets from Pluspetrol.
In a related development, Continental and Phoenix have submitted joint technical bids for six blocks in a recent international tender organized by the provincial company Gas y Petróleo del Neuquén (GyP).
Entities
Continental Resources · Harold Hamm · Mercuria Energy Group · Phoenix Global Resources · Vaca Muerta
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The companies plan to invest more than USD 4 billion over the next five years. www.mejorinformado.com · www.batimes.com.ar
- [○ 1 SOURCE] The partnership will manage approximately 163,000 net acres across six blocks. www.mejorinformado.com
- [● 2 SOURCES] The goal is to increase production from over 28,000 barrels of oil equivalent per day to over 100,000 boepd. www.mejorinformado.com · www.batimes.com.ar
- [○ 1 SOURCE] Continental and Phoenix submitted joint technical bids for six blocks in the Vaca Muerta formation. elperiodicodelaenergia.com
- [● 3 SOURCES] Continental Resources and Mercuria Energy Group will form a 50-50 joint venture in Phoenix Global Resources. elperiodicodelaenergia.com · www.mejorinformado.com · www.batimes.com.ar
- [● 2 SOURCES] The joint venture will include shale oil interests from Integra Capital. www.mejorinformado.com · www.batimes.com.ar