TotalEnergies sells two strategic Vaca Muerta blocks to YPF for USD 500 mn
TotalEnergies completed the sale of its 45% stake in two unconventional hydrocarbon concessions to YPF in Argentina for USD 500 mn, marking a key milestone in the management of its portfolio in South America.
| Countries | Argentine, France |
|---|---|
| Companies | TotalEnergies, Shell |
| Sector | Pétrole, Gaz, Exploration production, Exploration production |
| Theme | Investissements & Transactions, Transfert d'Actifs Énergétiques |
TotalEnergies has signed an agreement to sell to YPF SA its 45% stake in the unconventional blocks Rincon La Ceniza and La Escalonada, located in Argentina’s Vaca Muerta formation. The transaction is valued at USD 500 mn ($500 mn), pricing these assets at around USD 10,000 per acre for a net area of 51,000 acres currently in the pilot development phase. Other partners in these blocks are Gas y Petroleo de Neuquen (10%) and O&G Developments LTD S.A (45%), the latter owned by Shell.
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