Equinor sells Argentina assets for $1.1 billion

Norwegian oil company Equinor announced on Monday that it had agreed to sell its onshore assets in Argentina's basin of Vaca Muerta for $1.1 billion to Vista Energy, while keeping all its offshore assets.

The company stated that the remaining $550 million will be paid in Vista stock and in future payments of $225 millions.

Equinor stated in a press release that the consideration included contingent payments tied to oil prices and production over a period of five years.

Equinor said that the transaction included Equinor’s 30%?stake and its 50% holding in Bajo del Toro. However, Equinor’s offshore acreage was not affected.

Equinor's Bandurria Sur share averaged 24,400 barrels equivalents (boes) per day during the third quarter 2025, while Bajo del Toro contributed 2,100 boes per day.

The acquisition of the?blocks will help Vista to achieve its growth goals. It will add both flowing barrels as well as a 'deep inventory' of high-productivity, ready-to drill wells. Vista's CEO, Miguel Galuccio, said this in a press release. He also added that the acquisition would strengthen the company's presence in the basin.

Vista Energy said that the transaction would be funded by a combination between cash on hand and bank financing. A credit agreement covering an aggregate principal of up to 600 million dollars will also be in place. (Reporting and editing by Anna Ringstrom, Emelia Sithole Matarise, and Terje Solsvik)

(source: Reuters)