Thiel Bets Big on Argentina's Vaca Muerta Shale Play
Peter Thiel has invested $76 million in Vista, a company operating in Argentina's Vaca Muerta shale formation. This is the latest sign of the play's potential as one of the world's largest shale oil and gas deposits.
The stake was purchased four months after a meeting between Thiel and Argentina's President Javier Milei, who discussed economic policies and the president's opposition to wealth taxes.
Vista produces 160,000 barrels of oil equivalent daily in Vaca Muerta, with investments totaling over $6.5 billion to date. Big Oil supermajors have also built a presence in the play, positioning themselves for another potential boom.
Oil and gas production in Vaca Muerta has been booming, with crude output hitting an all-time high of 887,227 barrels per day in May. Natural gas output rose to 5.5 billion cubic feet per day in May, just shy of the record 5.7 billion cubic feet daily reported for July 2025.