ConocoPhillips Co. is teaming up with German oil and gas producer Wintershall Dea GmbH in Argentina’s massive Vaca Muerta Shale through a new joint venture.

On July 25, Wintershall Dea said the companies had signed a sales and purchase agreement to jointly develop certain blocks within the Vaca Muerta fairway in the central Argentine province of Neuquén. The deal continues a renaissance of oil and gas development in Argentina where output recently hit a new record driven by increased production from the country’s Vaca Muerta shale formation.

Wintershall DEA, which formed earlier this year through the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, has been active for more than 20 years in the Argentinian province of Neuquén, where the blocks are located. Still, the company is hoping to glean knowledge from ConocoPhillips’ unconventional oil and gas experience in U.S. shale through the new partnership, said Thilo Wieland, member of Wintershall Dea board responsible for Latin America.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access