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Commodities

Peter Thiel Bets $76 Million on Argentina’s Vaca Muerta Shale

Oilprice.com · 1h ago · 🇺🇸 United States

Peter Thiel Bets $76 Million on Argentina’s Vaca Muerta Shale

Palantir chairman and hedge fund owner Peter Thiel bought a 1% stake in one of the biggest companies operating in the Vaca Muerta shale formation in Argentina in the latest evidence of the play’s prospects as the world’s second-largest shale oil and gas deposit amid a global crunch. Thiel bought the stake in Vista in the form of American depositary shares worth $76 million, according to a security filing cited by Reuters. The purchase came four months after a meeting between the venture capitalist and Argentina’s president, Javier…

Read the full story at Oilprice.com →

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