Vista Oil and Gas set to obtain Argentine Oil and Gas Assets
The first Mexican pure E&P listed company, Vista asserted that it has agreed to obtain a fully operational oil and gas platform from Pampa Energía S.A. and Plusppetrol Resources Corporation with interests in certain exploitation concessions, assessment blocks and exploration permits in Argentina.
According to the latest available information published by the Argentine Ministry of Energy and Mining, majority of the Acquired assets are located in the Neuquina basin. Vista likely to become the fifth largest oil producer and operator in Argentina.
Miguel Galuccio, Chairman and Chief Executive Officer of Vista, commented, “With this transaction, we found the right balance of current profitable production and reserves coupled with high-growth potential in Vaca Muerta, the most exciting emerging shale play globally – perfectly aligned with our vision. The platform and timing could not be better suited to start delivering on our plan of becoming the leading Latin American independent oil and gas company.”