Exxon Mobil Corp. has agreed to sell most of its assets in Argentina’s Vaca Muerta shale region to Pluspetrol S.A., pending approval from the province of Neuquen. One source, who spoke anonymously, noted that discussions are private. EconoJournal first reported this agreement.
Exxon’s assets in Vaca Muerta, especially the Bajo del Choique-La Invernada tract, have garnered interest from Argentine drillers. The company is exiting these assets to focus on other projects, including in Guyana, as activity in the region increases under President Javier Milei’s administration, which is lifting price caps on domestic oil.
Pluspetrol, controlled by two Argentine families, has drilling operations throughout South America, including a natural gas field in Peru and existing acreage in Vaca Muerta.
Story via WorldOil.com
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