Thiel buys 1% Vista stake as Vaca Muerta shale investment grows

Thiel Macro LLC bought a 1 percent stake in Vista Energy worth about $76 million, an SEC filing shows.

The filing comes four months after Thiel met with Argentine President Javier Milei at the presidential palace, where they discussed economic policies and Milei's opposition to wealth taxes, the president told local media. Local media also reported Thiel recently purchased a mansion in an upscale Buenos Aires neighborhood.

Thiel Macro declared a portfolio of $418.7 million, including stakes in Vistra, Amazon, American Electric Power, DTE Energy, FirstEnergy, CMS Energy and X-Energy. The fund acquired roughly 1.2 million American Depositary Shares in Vista, one of the largest oil companies operating in the Vaca Muerta shale formation in Neuquen province, Argentina's Patagonia region.

Vista produces 160,000 barrels of oil equivalent per day and has invested more than $6.5 billion in Argentina. In May, the company raised its investment and production outlook for Vaca Muerta, a formation roughly the size of Belgium that holds the world's second-largest shale gas and fourth-largest oil reserves.

Milei has said he wants to use Patagonia's vast open spaces and cold climate to build data centers, a plan that has drawn opposition elsewhere in Latin America over high water and energy demands. The president's deregulation agenda has made Argentina increasingly attractive to foreign investors, and Thiel's position adds a high-profile endorsement of the country's energy sector.

The stake purchase also broadens Thiel's energy exposure beyond U.S. utilities and power firms. His fund's portfolio already includes positions in Vistra, American Electric Power, DTE Energy, FirstEnergy, CMS Energy and X-Energy, suggesting a coordinated bet on power generation and energy infrastructure.

For Vista, the investment arrives as the company expands output from Vaca Muerta, which has become a focal point for international capital seeking exposure to Argentina's shale boom. The company's May guidance raise projected higher production and investment for the formation, which could benefit from growing global demand for natural gas and oil.

Investors will watch whether Thiel's stake draws additional institutional interest in Vista and other Vaca Muerta producers. The company's next production guidance update will offer a clearer picture of whether output growth is tracking its raised outlook.

This article is for informational purposes only and does not constitute investment advice.