Peter Thiel buys 1% stake in Argentina’s Vista Energy

Investing.com -- Billionaire investor Peter Thiel has acquired a 1% stake in Vista Energy (NYSE:VIST), one of the largest oil producers operating in Argentina’s Vaca Muerta shale formation, a regulatory filing showed.

Thiel Macro LLC purchased roughly 1.2 million of Vista’s American depositary shares for about $76 million, according to a US Securities and Exchange Commission filing published on Friday.

The investment represents approximately 1% of Vista’s outstanding capital.

The purchase comes four months after Thiel met Argentine President Javier Milei at the presidential palace in Buenos Aires. Milei later told local media that they had discussed economic policy and their shared opposition to wealth taxes.

Local media have also reported that Thiel recently purchased a mansion in an affluent neighbourhood of Buenos Aires.

Vista produces about 160,000 barrels of oil equivalent per day and has invested more than $6.5 billion in Argentina.

The company increased its investment and production outlook for Vaca Muerta in May. The shale formation, located in Neuquén province in Argentina’s Patagonia region, is roughly the size of Belgium.

Vaca Muerta contains the world’s second-largest shale gas reserves and fourth-largest shale oil reserves, making it central to Argentina’s plans to expand energy production and exports.

Thiel Macro reported a portfolio valued at $418.7 million. Other holdings include Vistra (NYSE:VST), Amazon (NASDAQ:AMZN), American Electric Power (NASDAQ:AEP), DTE Energy (NYSE:DTE), FirstEnergy (NYSE:FE), CMS Energy (NYSE:CMS) and nuclear reactor developer X-energy.

The portfolio points to a broader focus on energy and electricity demand alongside the Vista investment.

Milei has said he wants to use Patagonia’s open land and cold climate to attract data center projects. Such developments could create new sources of power demand, though similar projects elsewhere in Latin America have faced opposition over their water and energy requirements.

Thiel is also the chairman and co-founder of data analytics company Palantir Technologies (NASDAQ:PLTR).