Overview
- Central Puerto, which disclosed the deal Monday in a filing to Argentina’s securities regulator, agreed to acquire 100% of Patagonia Energy from Patagonia Assets Limited.
- The transaction includes UK-based Patagonia Energy & Resources Ltd and its Argentine unit PESA, which hold the Aguada del Chivato and Aguada Bocarey concessions in Neuquén.
- The blocks cover about 27,181 acres with current conventional production, and the buyer says it plans to pursue unconventional development tied to the Vaca Muerta shale.
- The purchase price was not revealed, and the closing remains subject to customary conditions for this type of transaction.
- The step fits a broader diversification strategy into renewables, grid storage, forestry, and mining as the company positions for export revenue, while Vaca Muerta has become a magnet for investment due to its large shale reserves.