Equinor Divests Onshore Argentinian Assests in $1.1b Deal

Norwegian oil group Equinor has agreed to sell its onshore business in Argentina's Vaca Muerta basin to Vista Energy for $1.1 billion, it said on Monday, while keeping its offshore assets in the South American nation.

Half the payment, or $550 million, will be made in cash upon closing of the transaction, while the rest was split between $325 million in Vista stock, also on completion, and future payments of $225 million, the company said.

"The consideration includes contingent payments linked to production and oil prices over a five-year period," Equinor said in a statement.

The transaction included Equinor's 30% stake in the Bandurria Sur production asset and its 50% holding in Bajo del Toro, while Equinor's offshore acreage in Argentina was not affected, the company said.

Equinor's share of the Bandurria Sur production averaged 24,400 barrels of oil equivalent (boe) per day in the third quarter of 2025 while Bajo del Toro, which is still in an early development phase, contributed 2,100 net boe per day, it added.

"The blocks fit perfectly into Vista's portfolio, adding both flowing barrels and a deep inventory of highly productive, ready-to-drill wells that will underpin our growth trajectory," Vista's CEO Miguel Galuccio said in a statement, adding that the acquisition will strengthen the company's position in the basin.

The transaction will be funded through a combination of available cash and bank financing, with a credit agreement for an aggregate principal amount of up to $600 million, Vista Energy added.

(Reuters)