Harold Hamm Bets Bigger on Argentina’s Vaca Muerta Shale Boom

Harold Hamm, the founder of shale giant Continental Resources, is positioning his company for a larger role in Argentina's Vaca Muerta shale boom. The company will bid in this year's auction for Vaca Muerta acreage, which will take place on August 19 at the largest licensing round in the shale play in a decade. The Neuquen province, home to most of Vaca Muerta, is offering 15 blocks for sale, more than double the number offered in the previous auction.

Interest in Vaca Muerta has surged in recent years due to Argentina's new tax cuts and other investor-friendly policies under President Javier Milei. The province has attracted interest from international oil giants like Exxon and Chevron, who are drawn to Vaca Muerta's de-risked geology and potential for reliable, long-term production. Continental Resources has already invested in Argentina, acquiring stakes in four Vaca Muerta blocks in January 2026.

Vaca Muerta is considered one of the world's most compelling shale plays, and analysts predict it will become a major source of oil production in the coming decade. Rystad Energy estimates that crude production from Vaca Muerta could surpass 1 million barrels per day by the end of the decade. The province is also developing significant infrastructure, including the Vaca Muerta Oil Sur (VMOS) pipeline, which will transport up to 550,000 barrels of crude per day once completed.

In addition, Argentina's state firm YPF, along with Italian company Eni and the United Arab Emirates' XRG, are planning an integrated upstream-midstream project, Argentina LNG, to develop the gas resources of Vaca Muerta.