Exxon Mobil to Sell Vaca Muerta Assets in Argentina to Pluspetrol
2024-11-01 11:24
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Wedoany.com Report-Nov 1, U.S. energy giant Exxon Mobil has agreed on the terms and conditions to sell its oil and gas assets in Argentina's Vaca Muerta Shale formation to Pluspetrol, a source at Exxon Mobil said on Oct. 30. It’s unclear how much Exxon would receive for the assets.
The company is divesting some assets following its $60 billion acquisition of Pioneer Natural Resources and has said it plans to sell a portion of its North Dakota Bakken footprint.
Exxon will sell five blocks in Argentina's western Neuquen province, home to Vaca Muerta, and its stake in Argentine oil pipeline operator Oleoductos del Valle (Oldelval), the source said.
The source declined to provide details on how much the deal is worth or when it would be finalized.
"We continue to work together with the buyer and the Neuquen government to achieve alignment on the desired results," the spokesperson added.
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