Transaction Overview
Equinor has agreed to sell its entire onshore position in Argentina's Vaca Muerta basin to Vista Energy. The deal includes a 30% non-operated interest in the Bandurria Sur asset and a 50% non-operated interest in the Bajo del Toro asset. Equinor's offshore holdings in Argentina are not part of this transaction.
Financial Details
The total consideration for the sale is approximately USD 1.1 billion. Upon closing, Equinor will receive an upfront cash payment of USD 550 million and shares in Vista. Additional contingent payments are linked to production and oil prices over a five-year period. The transaction is set to take effect on July 1, 2025.
Asset Performance
In the third quarter of 2025, Equinor's share of production from Bandurria Sur averaged 24,400 barrels of oil equivalent per day. The Bajo del Toro asset, still in early development, contributed 2,100 net barrels of oil equivalent per day.
Future Plans
Equinor has been active in Argentina since 2017, initially entering the Vaca Muerta through a joint exploration agreement with YPF. The company expanded its onshore portfolio in 2020 with the acquisition of Bandurria Sur. In 2019, Equinor added eight offshore exploration licenses in the North Argentinian Basin and the southern Austral and Malvinas basins. Subsurface evaluation is ongoing to determine the most commercially viable path forward for these offshore assets.
