One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize.

Argentina has been hailed as a promising frontier for the development of shale gas outside of the United States, and billions of dollars in investment from international oil companies have begun to pour in.

Bloomberg published a lengthy article on the proliferation of shale gas drilling around the world, with interviews from top oil and gas executives.

Argentina's oil history begins with small-scale exploration in the late 19th century. The first discovery occurred in 1907, near a village on the coast in arid Patagonia, far to the south in a country that's nearly twice the size of Alaska.