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TotalEnergies Secures $1 Billion in Binding Bids for Vaca Muerta Shale Assets

The divestment is designed to raise funds for global investments without reducing TotalEnergies’ gas business in Argentina.

Overview

  • The sale covers five unconventional oil blocks in Vaca Muerta’s Neuquén Basin, including Aguada Pichana Este, San Roque, Pampa de Las Yeguas, Rincón La Ceniza and La Escalonada.
  • Binding offers totalling about US$1 billion have been submitted by YPF, Vista Energy, Tecpetrol and Pan American Energy.
  • TotalEnergies received board approval for the divestment and aims to close these deals in the second half of 2025.
  • Proceeds will help the company reach its target to raise US$2 billion through additional sales of Nigerian assets and renewable energy units in the United States, France and Greece.
  • TotalEnergies will maintain and expand its Argentine gas operations, which produce around 36 million cubic meters per day, underscoring its commitment to the local market.