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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