ExxonMobil to sell Argentina Vaca Muerta assets to Pluspetrol: report

Argentina

BUENOS AIRES , October 31, 2024 – ExxonMobil will sell its assets in Argentina’s Vaca Muerta formation to E&P independent Pluspetrol, Reuters reported on Thursday.

The sale will include stakes in five blocks and a stake in Argentine oil pipeline operator Oleoductos del Valle.

The report cited a source at the US energy giant who was unable to specify a timeline or value for the deal.

Reports emerged last year of ExxonMobil’s plans to sell assets in Vaca Muerta, with analytics platform Enverus saying a number of ExxonMobil Exploration Argentina’s assets had been placed under review.

These include operated assets Bajo del Choique – Lea Invernada (90%), Los Toldos II Oeste (90%), Los Toldos I Sur (80%), Pampa de las Yeguas I (50%) and Loma del Molle (50%), as well as non-operated assets Parva Negra Este (42.5%) and Sierra Chata (45.5%).

Pluspetrol is already a key player in Vaca Muerta’s Neuquen area, home to its star La Calera project.

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