Peter Thiel Bets $76 Million on Argentina’s Vaca Muerta Shale

Palantir chairman and hedge fund owner Peter Thiel bought a 1% stake in one of the biggest companies operating in the Vaca Muerta shale formation in Argentina in the latest evidence of the play’s prospects as the world’s second-largest shale oil and gas deposit amid a global crunch.

Thiel bought the stake in Vista in the form of American depositary shares worth $76 million, according to a security filing cited by Reuters.