Continental Resources has signed an asset sale and purchase agreement with Pan American Energy to acquire non-operated interests in four blocks in Argentina’s Vaca Muerta shale play, located in the Neuquén basin.
The transaction expands Continental’s presence in one of the world’s most prolific unconventional basins and follows a previously announced agreement to acquire operated interests in the Los Toldos II Oeste block. Financial terms were not disclosed.
Continental said the non-operated position will allow for collaboration on subsurface characterization, development planning, completion design and infrastructure as activity accelerates across the basin. Pan American Energy will remain operator of the assets.
The agreement supports Continental’s long-term strategy of building exposure to world-class unconventional resources while applying its U.S. shale development expertise internationally.
