State-owned YPF signed the first six agreements for the sale of 15 conventional areas grouped into six clusters in the provinces of Río Negro, Neuquén, Mendoza, and Chubut, Argentina.
The sale, part of a process initiated earlier this year to sell rights over certain conventional hydrocarbon areas to focus operations on the company’s Vaca Muerta assets, is expected to generate about $800 million, according to YPF president and chief executive officer Horacio Marín, (OGJ Online, Apr. 15, 2024).
The Mendoza Norte cluster, which includes Barrancas, Río Tunuyán, Ceferino, Mesa Verde, La Ventana, and Vizcacheras, will be transferred to Petróleos Sudamericanos, and the two Llancanelo areas, consisting of Llancanelo and non-producing Llancanelo R, will be transferred to PCR.
YPF agreed to transfer the Señal Picada/Punta Barda area assets in the provinces of Río Negro and Neuquén to Velitec.
The Neuquén Norte cluster, composed of Señal Cerro Bayo, Volcán Auca Mahuida, and Don Ruiz-Las Manadas, was signed to a joint venture of Sima and Bentia Energy.
Additionally, TSB and Quintana Energy will sign agreements to take over Estación Fernández Oro, a tight gas field in the province of Río Negro.
In the province of Chubut, PECOM will continue developing the Escalante – El Trébol and Campamento Central – Cañadón Perdido areas.
YPF said more than 60 offers were received from about 30 national and international companies and negotiations for the remaining conventional blocks still for sale are ongoing.
