Overview
- PAE will remain the majority partner and operator as the companies target a faster development pace through reinvestment and efficiency gains.
- Continental will acquire 20% of PAE’s interests in Coirón Amargo Sureste, Bandurria Centro and Aguada Cánepa in Neuquén, plus Loma Guadalosa in Río Negro, which was recently converted to an unconventional concession.
- Closing of the transaction is contingent on transfer approvals from the provinces of Neuquén and Río Negro.
- Founder Harold Hamm said Continental intends to invest about US$100–200 million annually in Vaca Muerta assets.
- The alliance builds on Continental’s agreed purchase of 90% of Los Toldos II Oeste from Pluspetrol, a deal still pending regulatory clearance.