Continental Resources expands Vaca Muerta position through Pan American Energy agreement

Continental Resources has signed an asset sale and purchase agreement with Pan American Energy to acquire non-operated interests in four blocks within Argentina’s Vaca Muerta shale play, further strengthening its footprint in one of the world’s most prolific unconventional basins.

The assets are located in the Neuquén basin and will remain operated by Pan American Energy. Financial terms of the transaction were not disclosed.

The agreement builds on Continental’s recent expansion efforts in Argentina. In November, the company signed a separate sale and purchase agreement—subject to closing conditions—to acquire operated interests in the Los Toldos II Oeste block, signaling a broader strategy to establish a long-term position in Vaca Muerta through both operated and non-operated investments.

“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,” said Doug Lawler, president and CEO of Continental Resources. He added that Pan American Energy’s deep basin experience creates opportunities for technical collaboration as development activity advances.

Under the agreement, Continental’s non-operated position is expected to support knowledge sharing across subsurface characterization, development planning, completion design evolution, operating practices and infrastructure development. The company said this approach will allow it to accelerate basin learning while leveraging its extensive experience in large-scale shale development in the United States.

Pan American Energy CEO Marcos Bulgheroni described the transaction as a strategic step toward accelerating development of the assets. “This relationship with one of the leading independent oil and gas companies in the United States aims to advance the development of the four areas,” Bulgheroni said, noting that Continental will contribute technical expertise focused on de-risking and operational efficiency.

Continental said the latest agreement aligns with its long-term value strategy of participating in world-class unconventional resources globally while applying proven shale development practices across multiple geographies.

“These recent transactions in Argentina strengthen Continental’s long-term value strategy,” Lawler said. “We take a long-term view of resource development, regardless of geography.”