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Argentina: TotalEnergies Divests Its Interest in Two Vaca Muerta Unconventional Blocks

1. TotalEnergies sells 45% stake in Argentine gas blocks for $500 million. 2. The deal values the assets at $10,000 per acre, enhancing financial flexibility.

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FAQ

Why Bullish?

The asset sale increases liquidity and reduces operational complexity, which historically supports stock price gains.

How important is it?

The asset sale enhances TotalEnergies' cash reserves, indicating strategic refocusing and value creation potential.

Why Short Term?

Investors may react positively to the cash influx and operational clarity in the immediate term.

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PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces that its affiliate Total Austral has signed an agreement with YPF SA for the sale of its 45% operated interest in two unconventional oil and gas blocks in Argentina, Rincon La Ceniza and La Escalonada, for an amount of USD 500 million at a valuation of around 10,000 USD/acre. Located in the Vaca Muerta area in the Neuquén Basin, these concessions (51,000 net acres) are currently in a pilot development phase. Total.

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