Spencer Platt/Getty Images News
Exxon Mobil (NYSE:XOM) has received several offers for holdings in Argentina’s Vaca Muerta shale formation that have been valued at ~$1B, Bloomberg reported Friday.
The assets consist of stakes it owns with QatarEnergy in seven oil and gas blocks in Vaca Muerta as well as holdings in a pipeline.
Exxon (XOM) placed its Argentina shale assets under review last year, frustrated in part by the government’s protectionist policies that left the lion’s share to national energy companies including YPF (YPF), Pampa Energia (PAM) and Tecpetrol, which are partners in some of the acreage Exxon is selling.
Exxon’s (XOM) push would come despite the hands-off approach taken by Argentina’s new president Javier Milei; drillers already are benefiting from the new market-oriented approach that has seen oil and fuel prices rise toward so-called export-parity levels.
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