Peter Thiel, the chair and co-founder of Palantir, has recently acquired a 1% stake in Vista, one of the largest oil companies operating in Argentina’s Vaca Muerta shale formation. This acquisition was disclosed in a filing with the U.S. Securities and Exchange Commission, where it was revealed that Thiel’s hedge fund, Thiel Macro LLC, purchased around 1.2 million American Depositary Shares in Vista, totaling approximately $76 million.
This move comes after Thiel’s meeting with Argentine President Javier Milei at the presidential palace, where they discussed economic policies and Milei’s opposition to wealth taxes. Thiel has also made headlines for purchasing a mansion in an upscale neighborhood in Buenos Aires, further solidifying his presence in the country.
Vista, operating in the Vaca Muerta region, boasts production of 160,000 barrels of oil equivalent per day and has invested over $6.5 billion in Argentina. The company recently raised its investment and production outlook for Vaca Muerta, a significant shale formation comparable in size to Belgium.
In addition to his investment in Vista, Thiel’s hedge fund holds stakes in other prominent companies such as Amazon, American Electric Power, and DTE Energy. The fund’s portfolio is valued at $418.7 million, showcasing a diverse range of investments in the power and energy sector.
Milei, on the other hand, has expressed interest in utilizing Patagonia’s expansive landscapes and cool climate to establish data centers. This initiative could potentially face challenges in other parts of Latin America due to the high water and energy requirements of data center projects.
Overall, Thiel’s investment in Vista underscores the potential of Argentina’s energy sector, particularly in the lucrative Vaca Muerta region. With ongoing developments and increased investments in the area, the country is poised to further solidify its position as a key player in the global energy market.
