{"id":19561,"date":"2026-08-21T07:39:00","date_gmt":"2026-08-21T04:39:00","guid":{"rendered":"https:\/\/rnpi.ru\/news\/?p=19561"},"modified":"2026-08-21T07:39:00","modified_gmt":"2026-08-21T04:39:00","slug":"continental-signs-hoa-for-50-stake-in-phoenix-from-mercuria","status":"publish","type":"post","link":"https:\/\/rnpi.ru\/news\/?p=19561","title":{"rendered":"Continental signs HoA for 50% stake in Phoenix from Mercuria"},"content":{"rendered":"

US-based Continental Resources has signed a heads of agreement (HoA) to acquire a 50% interest in Phoenix Global Resources, an independent upstream oil and gas company, controlled by Mercuria Energy Group.<\/em><\/p>\n

US-based Continental Resources has signed a heads of agreement (HoA) to acquire a 50% interest in Phoenix Global Resources, an independent upstream oil and gas company controlled by Mercuria Energy Group. The agreement outlines plans to create a 50\/50 joint venture (JV) operating company comprising Continental and Mercuria, focused on developing Phoenix\u2019s assets in the Vaca Muerta region of Argentina. Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms. Find out more The new JV will manage a portfolio spanning approximately 163,000 net acres across six blocks in Vaca Muerta.<\/p>\n

The combined assets include Phoenix\u2019s positions in Mata Mora Norte, Mata Mora Sur, Confluencia Norte and Confluencia Sur, along with Continental\u2019s operated interest in Los Toldos II Oeste. Additional interests from the Bajo del Toro Este block are also expected to be acquired as part of the JV. Current production across the portfolio exceeds 28,000 barrels of oil equivalent per day (boepd), with plans to increase output to more than 100,000boepd within five years.<\/p>\n

Continental president and CEO Doug Lawler said: \u201cMercuria has been an exceptional partner, and we have tremendous respect for the strong operating platform and track record Phoenix has established in Vaca Muerta. \u201cVaca Muerta is a world-class resource, and we believe the combination of Argentina\u2019s tremendous potential, Phoenix\u2019s established capabilities and Continental\u2019s unconventional development expertise can help further establish the country as a global oil and natural gas leader.\u201d Over the next five years, the JV expects to deploy more than $4bn (\u00a32.93bn) in capital to support production growth. The combination leverages Mercuria\u2019s global energy and investment expertise, Continental\u2019s experience in unconventional resource development and Phoenix\u2019s operational knowledge of Vaca Muerta. Phoenix CEO Pablo Bizzotto said: \u201cPhoenix has built a disciplined, technically strong operating platform with a team that brings deep knowledge and experience in Vaca Muerta. Bringing Continental into Phoenix as a JV operating partner, alongside Mercuria, adds decades of unconventional development and operating expertise that will strengthen our capabilities as we enter the next phase of growth.<\/p>\n

\u201cBy combining Phoenix\u2019s established operating platform and knowledge of Vaca Muerta with Continental\u2019s technical and operational experience developing unconventional resources at scale, we believe we have an exceptional opportunity to expand development and build one of the leading independent operators in the basin.\u201d The portfolio is expected to meet the criteria for Argentina\u2019s Large Investment Incentive Regime, based on its asset size and capital requirements. The move strengthens the existing partnership between Mercuria and Continental, who are already jointly involved in the Pecos Power Plant, a 452MW natural gas-fired project in development in West Texas, US. Completion of the proposed transaction remains subject to negotiation of definitive agreements, the fulfilment of closing conditions and receipt of regulatory approvals.<\/p>\n

\u0418\u0441\u0442\u043e\u0447\u043d\u0438\u043a: https:\/\/www.offshore-technology.com\/news\/continental-hoa-50-stake-phoenix-from-mercuria\/<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

US-based Continental Resources has signed a heads of agreement (HoA) to acquire a 50% interest in Phoenix Global Resources, an independent upstream oil and gas <\/p>\n","protected":false},"author":1,"featured_media":19560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[352],"tags":[],"class_list":["post-19561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-offshore-technology-com"],"_links":{"self":[{"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=\/wp\/v2\/posts\/19561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19561"}],"version-history":[{"count":0,"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=\/wp\/v2\/posts\/19561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=\/wp\/v2\/media\/19560"}],"wp:attachment":[{"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rnpi.ru\/news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}