Vista Energy has announced that it will pump $1.1 billion to develop the massive shale deposit in Argentina, the company’s CEO Miguel Galuccio told Reuters.

He showcased his company’s near-term development plan for the Vaca Muerta shale formation where he was celebrating the company’s five-year anniversary on the New York Stock Exchange.

According to Reuters, the company’s shares have increase by more than 460% since its initial public offering.

Galuccio said that Vista Energy will use fracking technique in its operation.