Equinor exits Argentina onshore through $1.1-billion sale to Vista

NEUQUEN, February 2, 2026 – Equinor has agreed to sell its full onshore position in Argentina’s Vaca Muerta Basin to Vista Energy in a deal valued at around USD 1.1 billion, the company said on Monday.

The sale includes Equinor’s 30% non-operated stake in Bandurria Sur and its 50% non-operated interest in Bajo del Toro.

Equinor will receive USD 550 million in cash at closing and shares in Vista, with additional contingent payments linked to production and oil prices over five years. Its offshore assets in Argentina remain unaffected.

“We are realising value from two high-quality assets we have actively developed as we continue to high-grade our international portfolio,” Equinor executive vice-president for exploration and production international Philippe Mathieu said.

Equinor entered the Argentine market in 2017 through a joint exploration agreement with YPF and later acquired a stake in Bandurria Sur in 2020. The company’s share of Bandurria Sur production averaged 24,400 boepd in Q3 2025, while Bajo del Toro contributed 2,100 boepd.

Offshore, Equinor holds eight licences in Argentina’s North, Austral and Malvinas basins. Subsurface evaluation is ongoing, with no current well commitments.

“This is a value-driven decision that enhances the resilience of our international portfolio and sharpens our focus in Argentina,” said Chris Golden, Equinor’s senior vice-president for the USA and Argentina.

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