Phoenix Global Resources

What Phoenix Global Resources does

Phoenix Global Resources is an independent upstream oil and gas exploration and production company focused on developing unconventional shale resources in Argentina's Vaca Muerta formation, one of the world's largest shale gas deposits. The company operates a portfolio of both operated and non-operated assets across three Argentine provinces — Neuquén, Río Negro, and Mendoza — with core operated blocks including Mata Mora Norte y Sur and Confluencia Norte y Sur in Vaca Muerta, alongside the non-operated Refugio Tupungato asset in Mendoza. Its technology stack centers on horizontal well drilling and shale extraction techniques, supported by an inventory of horizontal wells to be developed in the Vaca Muerta formation and 2P net reserves disclosed as of December 2024. The company maintains offices in Buenos Aires, Neuquén, Mendoza, and London.

Phoenix generates revenue from crude oil and gas production sales commercialized globally through its parent Mercuria Energy Trading's network, which operates in more than 50 countries. Pricing follows global commodity benchmarks and is not publicly disclosed, with production sold through Mercuria's off-take infrastructure. Current production stands at 22,000 barrels per day, and the company has announced an ambitious $6 billion expansion plan targeting 260% production growth to over 80,000 bpd by decade-end, including development of the eastern flank of Patagonia's shale fields and a potential new asset acquisition. Phoenix is approximately 90% owned by Mercuria Energy Group following a 2022 take-private transaction, with reported further acquisition involvement by SunCoke Energy in 2025.

Name

Phoenix Global Resources

Legal name

Phoenix Global Resources Plc

Website

https://phoenixglobalresources.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Phoenix Global Resources is an independent upstream oil and gas exploration and production company focused on developing unconventional shale assets in Argentina's Vaca Muerta basin, with current production of 22,000 bpd and a $6 billion expansion plan targeting 260% growth by decade-end.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration & Production

NAICS

Crude Petroleum Extraction (211120), Natural Gas Extraction (21113), Natural Gas Extraction (211130)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Crude Oil & Refined Products Trading & Marketing (EUAGAAAD)

akta.pro secondary industry

Natural Gas Marketing & Asset Optimization (Storage, Transport, Hub Services) (EUAGAGAC)

Keywords

• Oil exploration production
• Shale gas development
• Unconventional hydrocarbons
• Crude oil extraction
• Vaca Muerta operations

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Infrastructure, Supply Chain

Revenue model

1. Oil and Gas Production Sales: Revenue generated from crude oil and gas production sales. The company currently produces 22,000 barrels per day with targets to grow production by 260% by decade end. Oil is sold as a commodity to global markets through parent company Mercuria's trading operations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Phoenix Global Resources is an upstream oil and gas exploration and production company operating in Argentina's Neuquén, Río Negro, and Mendoza provinces, with a portfolio anchored in the Vaca Muerta shale formation. It develops operated and non-operated unconventional assets including the Mata Mora Norte y Sur and Confluencia Norte y Sur areas, alongside the non-operated Refugio Tupungato block in Mendoza. Crude oil and gas production is sold through its controlling shareholder Mercuria Energy Trading's global commercialization network.

Product overview

Phoenix Global Resources is an energy company focused on oil and gas exploration and production in Argentina. The company operates a portfolio of operated and non-operated assets across three provinces (Neuquén, Río Negro, and Mendoza), with its core operations anchored in the Vaca Muerta shale formation. The company's primary products include the Mata Mora Norte y Sur and Confluencia Norte y Sur operated areas, supplemented by non-operated assets in Mendoza (Refugio Tupungato). Supporting the core E&P operations are an Operational Excellence Program with 10 Life-Saving Rules for safety, and a Sustainability/Community Engagement initiative with investments in education, safety, and health. Phoenix is approximately 90% owned by Mercuria Energy Trading and is pursuing a $6 billion expansion plan targeting 260% production growth by decade-end.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil and Natural Gas Production Upstream exploration and production of crude oil and natural gas from operated and non-operated assets in the Neuquén, Río Negro, and Mendoza regions of Argentina, with the core portfolio anchored in the Vaca Muerta shale formation. Sales volumes reach international energy commodity markets through Mercuria Energy Trading's global commercialization network.

Quantifiable outcome

• 260% production growth target from 22,000 bpd to over 80,000 bpd by decade end
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Vaca Muerta Hydrocarbon Operators ConsortiumcoreStrategic or Co-development Partner · 30 April 2026Eleven of Argentina's main hydrocarbon operators including Phoenix have joined a trust fund to finance road infrastructure projects in Neuquén province. The initiative targets five projects totaling 51km on provincial routes 7, 8, and 51 near Añelo to address traffic bottlenecks created by increased shale development activity. This addresses the main infrastructure constraint for the region.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Compañía General de Combustibles (CGC): Argentine E&P company operating in Neuquén Basin including Vaca Muerta; comparable as an Argentina-focused upstream operator with overlapping asset base.
• Vista Energy: Independent Argentine E&P concentrated on Vaca Muerta unconventional oil production with both operated and non-operated acreage; highly comparable as a publicly listed Vaca Muerta pure-play targeting liquids growth from shale.
• Tecpetrol: Techint Group's E&P subsidiary and a major Vaca Muerta operator (Fortín de Piedra); comparable as a large-scale Argentine unconventional gas and liquids producer backed by an industrial parent.
• Pluspetrol: Privately-held Argentine E&P with significant Vaca Muerta and conventional acreage; comparable as a privately-held, integrated Argentine producer targeting unconventional growth.
• YPF S.A. Argentina's dominant state-integrated oil and gas producer with the largest Vaca Muerta position; directly comparable as the premier upstream operator in the same basin where Phoenix operates.

Broad incumbents

• ExxonMobil Argentina: IOC with Vaca Muerta pilot acreage and unconventional development experience globally; comparable as an international major pursuing shale production in the same basin.
• Shell Argentina: IOC with Vaca Muerta acreage (Sierras Blancas, Cruz de Lorena); comparable as an international major operating unconventional shale acreage in the same Argentine basin.
• Pampa Energía: Integrated Argentine energy company with upstream, midstream, power generation and downstream; comparable through its Vaca Muerta upstream operations while being broader in scope.
• Total Austral (TotalEnergies): TotalEnergies' Argentine subsidiary operating conventional gas and Vaca Muerta assets; comparable as an IOC operator with overlapping Neuquén Basin footprint.
• Chevron Argentina: Subsidiary of Chevron operating in Vaca Muerta (El Trapial block); comparable as an IOC participating in the same play with conventional horizontal drilling expertise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PGR_plc
• LinkedInlinkedin.com/company/phoenix-global-resources-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phoenix Global Resources