YPF to acquire Vaca Muerta blocks

YPF SA will acquire interest in two unconventional oil and gas blocks in Vaca Muerta shale, Argentina, from TotalEnergies SE.
Aug. 6, 2025

YPF SA will acquire interest in two unconventional oil and gas blocks in Vaca Muerta shale, Argentina, from TotalEnergies SE.

The blocks cover 51,000 net acres and include Rincon La Ceniza and La Escalonada. La Escalonada is a crude oil producing block in Vaca Muerta's North Hub. Rincón de La Ceniza is in the Vaca Muerta wet-gas window and can potentially add to the Argentina LNG project (OGJ Online, Dec. 23, 2024).

The blocks have unconventional concessions until 2051 and are currently in the pilot development phase. The purchase price was $500 million with a valuation of about $10,000/acre.

YPF will be operator in the blocks (45%) with partners Gas y Petroleo de Neuquen (10%) and Shell Argentina (45%).

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