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TotalEnergies divests interest in two Vaca Muerta unconventional blocks

TotalEnergies (TTE) announces that its affiliate Total Austral has signed an agreement with YPF SA (YPF) for the sale of its 45% operated interest in two unconventional oil and gas blocks in Argentina, Rincon La Ceniza and La Escalonada, for an amount of $500M at a valuation of around 10,000 USD/acre. Located in the Vaca Muerta area in the Neuquen Basin, these concessions are currently in a pilot development phase. Total Austral’s partners in these concessions are Gas y Petroleo de Neuquen and O&G Developments LTD S.A, owned by Shell (SHEL).

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