Overview
- Pecom said it agreed to purchase a 57% stake in the El Corcobo block from Pluspetrol through a deal signed with its affiliate San Benito Upstream.
- The package includes the CNQ-7 Gobernador Ayala, CNQ-7A, Jagüel Casa de Piedra and Gobernador Ayala III areas that span Mendoza and La Pampa.
- Pecom reports the assets contribute roughly 18,000 barrels per day and will push its operated production above 50,000 barrels per day, placing it among Argentina’s top five producers.
- The company said the transaction still needs regulatory approvals and other conditions, and its separate Manantiales Behr purchase from YPF for $410 million has not yet transferred operational control.
- El Corcobo consists of mature conventional fields with potential for tertiary recovery, and Pluspetrol is selling as it pivots to Neuquén shale with a target of 100,000 barrels per day by 2029.