Exxon Mobil to Sell Argentina's Vaca Muerta Assets to Pluspetrol

Exxon Mobil has agreed to sell its oil and gas assets in Argentina's Vaca Muerta shale formation to Pluspetrol, including five blocks in Neuquen province and its stake in pipeline operator Oldelval.

(Reuters) — U.S. energy giant Exxon Mobil agreed on the terms and conditions to sell its oil and gas assets in Argentina's Vaca Muerta formation to Pluspetrol, a source at Exxon Mobil said on Wednesday.

Exxon will sell five blocks in Argentina's western Neuquen province, home to Vaca Muerta, and its stake in Argentine oil pipeline operator Oleoductos del Valle (Oldelval), the source said.

The source declined to provide details on how much the deal is worth or when it would be finalized.

"We continue to work together with the buyer and the Neuquen government to achieve alignment on the desired results," the spokesperson added.