Mercuria-Backed Oil Driller Plots $6 Billion Argentina Shale Push

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Phoenix Global Resources Plc, a crude producer backed by trading house Mercuria Energy Group Ltd., is preparing a $6 billion expansion in Argentina’s booming Vaca Muerta shale patch after President Javier Milei broadened his investor incentives to include oil drilling.Phoenix will apply in the coming days to the program, known by its Spanish acronym RIGI, to develop acreage on the eastern flank of Patagonia’s shale fields plus a new asset in another corner of the basin that it’s close to acquiring, Chief Executive Officer Pablo Bizzotto said in an interview.