Overview
- Pluspetrol informed the securities regulator that Continental Resources Argentina will receive its 90% stake in the Los Toldos II Oeste UTE, with GyP retaining 10%.
- Completion of the transaction is contingent on precedent conditions and regulatory approvals, according to the filing.
- Los Toldos II Oeste remains in the exploration phase with only three wells drilled, though initial results drew interest from Continental executives.
- The block was part of the assets Pluspetrol bought from ExxonMobil, and the sale aligns with Pluspetrol’s plan to concentrate investment on Bajo del Choique–La Invernada.
- Harold Hamm met President Javier Milei in recent weeks, and Economy Minister Luis Caputo publicly welcomed the move on X as positive for attracting U.S. independents.