ExxonMobil is considering a sale of its Vaca Muerta shale assets in Patagonia and has received several offers of holding already, anonymous Bloomberg sources revealed on Friday.
The U.S. oil giant’s assets that will be sold include assets owned as part of a joint venture with QatarEnergy, including seven oil and gas blocks in the Vaca Muerta and holdings in a pipeline. The assets are estimated to be valued at $1 billion, the sources suggested.
At the time, Exxon said it was looking for farm-in investors, but didn’t rule out asset sales. “It is still premature to determine the final outcome of the ongoing review process, which runs parallel to our development commitments in the basin. It may not necessarily result in asset divestment,” an ExxonMobil source told Oil&Gas Journal. ExxonMobil has drilled at least 40 wells in the Neuquen, but only 7 are producing—the rest are DUCs.
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