The agreement reached was closed for an amount close to US$1.7 billion and includes majority stakes in strategic blocks located in Vaca Muerta.
Pluspetrol announced that it completed the purchase of the entirety of ExxonMobil Exploration Argentina (EMEA) from its previous shareholders, ExxonMobil and QatarEnergy.
According to the official statement, the purchase includes majority stakes in strategic blocks located in Vaca Muertaamong which stand out: Bajo del Choique-La Invernada, Los Toldos I Sur, Los Toldos II Oeste and Pampa de las Yeguas, in addition to 21.3% of the shares in the Oldelval pipeline, the main oil evacuation system of the Neuquén Basin.
Bajo del Choique-La Invernada is located in the most prolific area of shale oil of Vaca Muerta; It is a world-class asset with wells that stand out for their high productivity. “This transaction represents an important milestone in the growth of Pluspetrol, which will allow the company to significantly multiply its production and reserves, consolidating it as one of the oil and gas producers most important in the region,” the letter detailed.
With this acquisition, Pluspetrol reaffirmed its purpose of “promoting sustainable energy development for the well-being of current and future generations and welcomes a team of people who will join the company to continue the development of the incorporated assets.” , they added.
Pluspetrol
PlusPetrol consolidates itself as a leader in Vaca Muerta with this acquisition
The agreement reached was closed for an amount close to US$1.7 billion, a figure that considerably exceeds the initial valuation of US$1 billion estimated by Jefferies Financial Groupthe bank in charge of the transaction.
Among the assets acquired are Bajo del Choique-Lea Invernada, Loma del Molle, Los Toldos II Oeste, Los Toldos I Sur and Pampa de las Yeguas I. These areas, which add up to more than 900 square kilometers in total, are key to the development of Vaca Muerta, one of the most promising unconventional deposits worldwide.
With this acquisition, Pluspetrol reinforces its presence in the competitive energy market, consolidating itself as an essential actor in the development of Vaca Muerta. Its ability to outperform other bidders not only reflects its financial strength but also its long-term strategic vision.
The incorporation of these assets also strengthens the company’s operational capacity at a crucial time for the oil industry in Argentina, where investments in infrastructure and technology are essential to ensure the sustained growth of the sector.
Source: Ambito
