Peter Thiel, chairman of Palantir, acquired a 1% stake in Vista, one of the largest shale producers in Vaca Muerta, for $76 million. Vaca Muerta production is booming, helping Argentina become Latin America’s fourth-largest oil producer. Growth could accelerate further, with Vaca Muerta oil output projected to exceed 1 million bpd by 2030.
Thiel’s investment came four months after a meeting with Argentina’s president, Javier Milei, where they discussed economic policies. The Argentine president is also eyeing data centers as a source of government revenue, exploiting the vast and flat open spaces available in Patagonia.
Vista produces about 160,000 barrels of oil equivalent daily in the Vaca Muerta play, with its investments in the formation exceeding $6.5 billion to date. Big Oil supermajors have also begun investing in the play, positioning themselves for another oil boom.
