en.Wedoany.com Reported - On August 5, Argentina's state-controlled energy company YPF signed two agreements for the transfer of conventional oil and gas assets, with a combined base price of $405 million, covering the Chachahuén and Mendoza No Operado asset portfolios in Mendoza Province and La Pampa Province. Both transactions remain subject to relevant precedent conditions, with the final amounts also including value-added tax and closing price adjustments; asset delivery has not yet been completed.
Among them, the Chachahuén asset portfolio was sold for $200 million to Energía Mendocina and Compañía Andina de Petróleo y Gas. The transfer scope includes YPF's 70% interests in each of the Chachahuén Sur and Cerro Morado Este concessions, as well as full interests in the Puesto Hernández and Chihuido de la Sierra Negra concessions, along with related pipelines and inventory materials. The effective base date for the transaction as stipulated in the agreement is June 1, 2026.
The average daily oil production of this asset portfolio in the second quarter of 2026 was approximately 10,000 barrels, with natural gas production of approximately 30,000 cubic meters per day. Under the equity arrangement between the buyers, Compañía Andina and Energía Mendocina will each receive 40% and 30% interests in Chachahuén Sur and Cerro Morado Este, respectively; the interests in Puesto Hernández and Chihuido de la Sierra Negra will be held 50% each by the two companies.
The other transaction involves the Mendoza No Operado asset portfolio, with a sale price of $205 million, and the buyer is San Benito Upstream, affiliated with Argentine energy group PeCom. The transferred assets include a 30.01% interest in the CNQ-7 Gobernador Ayala concession, as well as 50% interests in each of the CNQ-7A and Jagüel Casa de Piedra concessions, with the relevant areas distributed across southern Mendoza Province and western La Pampa Province. The effective base date for the transaction as stipulated in the agreement is January 1, 2026.
The Mendoza No Operado asset portfolio had an average daily oil production of approximately 7,000 barrels in the second quarter of 2026, with natural gas production of approximately 40,000 cubic meters per day. This transaction also includes related pipelines and inventory materials and is subject to regulatory approvals and other customary closing procedures. Upon completion of the transfer, the PeCom side will further consolidate the interests in these conventional oil fields.
This sale is part of YPF's plan to exit conventional oil and gas assets. The company is gradually reducing its mature conventional oil field operations, shifting its investment focus toward Vaca Muerta shale oil and gas, oil and gas transportation infrastructure, and liquefied natural gas projects. According to YPF's investor materials, exiting conventional oil fields and proactively adjusting its asset portfolio have been incorporated into the company's "4×4" strategy.
