{
  "id": 2166939,
  "title": "Hamm’s Continental to buy 50% of Mercuria Argentina oil firm",
  "url": "https://urgent.news/2026/08/20/hamms-continental-to-buy-50-of-mercuria-argentina-oil-firm",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-20T15:44:01.000Z",
  "source": {
    "name": "Buenos Aires Times",
    "slug": "buenos-aires-times",
    "url": "https://www.batimes.com.ar/news/economy/hamms-continental-to-buy-50-of-mercuria-argentina-oil-firm.phtml"
  },
  "original_language": "en",
  "account": "Continental Resources Inc., led by billionaire Harold Hamm, has entered into agreements to acquire a 50% stake in Mercuria Energy Group's Argentine shale oil firm. The partnership aims to invest over US$4 billion in expanding production capacity. Together, Continental and Mercuria will form a 50-50 joint venture known as Phoenix Global Resources. The deal will triple Phoenix's output to more than 100,000 barrels of oil equivalent within five years. The collaboration also includes shale oil interests from Integra Capital, owned by José Luis Manzano. This investment follows a recent surge of US investors in Argentine shale oil, including tech billionaire Peter Thiel's substantial stake in Vista Energy SAB. President Javier Milei, a Donald Trump ally, has implemented free-market reforms that are accelerating Argentina's shale boom in the Vaca Muerta formation, overcoming years of government restrictions that hindered development. Mercuria entered Argentine shale in 2017 and recently secured a US$1.4-billion deal to purchase an oil refinery and gas station network. Continental and Phoenix recently competed for exploration licenses in the Vaca Muerta, bidding for six blocks, and are also collaborating with Mercuria Americas to construct a natural gas-fired power plant in the Permian Basin of West Texas. Continental became the first independent US shale producer to invest in Argentina last year, purchasing assets from Pluspetrol SA.",
  "summary": "Billionaire shale pioneer Harold Hamm’s Continental Resources signs agreements to buy half of Argentine shale oil firm Phoenix Global Resources, owned by Mercuria Energy Group. Leer más",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Buenos Aires Times",
        "title": "Continental, Geopark among bidders for Argentina shale blocks",
        "url": "https://urgent.news/2026/08/20/continental-geopark-among-bidders-for-argentina-shale-blocks",
        "published": "2026-08-20T12:10:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}