Pluspetrol joins Vaca Muerta partnership in two new areas

Pluspetrol has joined as a partner in two hydrocarbon areas within the Vaca Muerta formation: La Escalonada and Rincón La Ceniza. The Neuquén provincial government approved the contractual modifications, which will generate approximately $13.92 million for the province through contributions and stamp taxes.

The new consortium for these areas consists of Shell Argentina S.A. (45%), Vaca Muerta Inversiones S.A. (25%), Pluspetrol S.A. (20%), and the provincial state company Gas y Petróleo del Neuquén S.A. (10%). This arrangement follows a previous asset exchange agreement between Pluspetrol and YPF.

Rincón La Ceniza covers 220.77 square kilometers and is located in a gas condensate and wet gas window. La Escalonada spans 239 square kilometers and is situated in a volatile oil and gas condensate window. Both areas hold concessions for the exploitation of unconventional hydrocarbons.