TanGo enters Argentina's Vaca Muerta with shale concessions

BUENOS AIRES, May 12 (Reuters) - TanGo Energy Argentina said on Tuesday it had secured three unconventional oil and gas concessions in Rio Negro province, giving it a foothold in Vaca Muerta, the shale formation at the center of Argentina's drive to raise energy output and exports.

• The blocks span more than 150,000 acres. TanGo said the pilot phase will include six wells and a $66 million investment starting in the first half of 2027.

• Output from the unconventional developments will be split 50-50 with Vista Energy VISTAA.MX.

• The company said the provincial decree also approved the transfer of five concession areas and three transport concessions from Vista to TanGo, while converting the three blocks into unconventional concessions.

• Vaca Muerta, in Argentina's Neuquen Basin, is one of the world's largest shale oil and gas resources and is key to the country's efforts to boost exports, attract investment and generate hard currency.