Argentine oil company Pluspetrol has signed an agreement with U.S.-based Continental Resources under which it will transfer its majority stake in a block in the vast Vaca Muerta unconventional hydrocarbon formation, located in southwest Argentina.
In a filing to Argentine markets, Pluspetrol stated that its subsidiary, Pluspetrol Cuenca Neuquina, signed an agreement with Continental Resources to transfer its 90% stake in the Los Toldos II Oeste block.
Pluspetrol has operated this block since December 2024, as part of the package of assets it acquired from ExxonMobil at that time.
The remaining 10% stake in Los Toldos II Oeste is held by Gas y Petróleo de Neuquén (GyP), the provincial state-owned company.
“The closing of the transaction and execution of the transfer are subject to certain precedent conditions,” Pluspetrol added in its statement, without providing further details for the time being.
