Central Puerto to acquire Patagonia Energy, secures Vaca Muerta oil acreage
Central Puerto (CEPU) has agreed to acquire Patagonia Energy SA (PESA), according to an Apr. 12 filing with Argentina’s securities regulator.
The transaction includes the Aguada del Chivato–Aguada Bocarey concession in the oil window of Vaca Muerta in the northern Neuquén basin near Rincón de los Sauces.
The private power generator’s entry into Vaca Muerta signals a move toward vertical integration, as the company expands from electricity generation into hydrocarbon production.
The block covers about 110 sq km and includes roughly 30 active wells. Current production is about 600 b/d of oil and 65,000 cu m/d of gas, sourced from mature conventional reservoirs.
Despite its limited current output, the asset lies in a core shale oil area. Unconventional potential has been confirmed through prior drilling, including at least one horizontal well, although no large-scale development has been carried out. Future development would require horizontal drilling and hydraulic fracturing at pad scale.
Following the deal's closing, Patagonia Energy will serve as Central Puerto’s upstream platform.
About the Author
Camilo Ciruzzi
South America Correspondent
Ciruzzi is a journalist based in the Argentine province of Río Negro. He has over 30 years of experience in radio and print media. Ciruzzi studied Communication Sciences at the University of Buenos Aires and specialized in energy, political economy, and finance.