Argentina’s Pampa Energia Sells Assets to Mexico’s Vista

Argentinian oil and gas company Pampa Energia said January 17 it has sold its 58.88% interest in Petrolera Entre Lomas (a partly-owned subsidiary of Petrobras Argentina) and participation interests in four blocks in the Neuquina Basin to Mexico’s Vista Oil & Gas.

The $360mn sale includes a 3.85% interest in the Entre Lomas, Bajada del Palo and Agua Amarga blocks, in the province of Neuquén, and a 100% interest in the Medanito-Jagüel de los Machos block, in the province of Rio Negro. The transaction remains subject to compliance with certain conditions, including approval by Vista’s shareholders.

The transaction is in line with Pampa’s strategy of focusing on investments in the expansion of installed power generating capacity and in the exploration and production of natural gas, particularly on shale and tight gas in Vaca Muerta.