Phoenix Global Resources Plc (PGR.L) Share Price & News

Phoenix Global Resources plc (AIM: PGR; BCBA: PGR) is an upstream oil and gas company offering its investors an opportunity to invest directly into Argentina’s Vaca Muerta shale formation and other unconventional resources.

The Vaca Muerta is the only producing shale outside North America and has attracted significant major entrants including Total, BP, Chevron, ExxonMobil, Qatar, Petroleum, Petronas, Shell and Equinor. The Company has 560,000 net Vaca Muerta acres covering approximately 7.5% of the formation, with three core Vaca Muerta areas (Puesto Rojas, Mata Mora and Corralera). The Company’s unconventional acreage is underpinned by 57.2 MMboe conventional proven and probable reserves and 11,070 boepd of production in 2017.

The Company’s strategy is to invest in drilling activity in its Vaca Muerta acreage to increase resources, reserves and production and is well capitalised and of a scale to do so.