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Financial News: PAMPA ENERGIA: Petrolera Sells Assets For US$ 360

PAMPA ENERGIA: Petrolera Sells Assets For US$ 360 Million

01/17/2018 - 14:20:00 (RTTNews)

(RTTNews) - Argentinean oil company Pampa Energía agreed with Vista Oil & Gas S.A.B. the sale of its direct interests of 58.88% in Petrolera Entre Lomas S.A. (Pelsa), 3.85% in the Entre Lomas, Bajada del Palo and Agua Amarga areas in Neuquén and 100% in the Medanito S.E. and Jagüel de Los Machos in La Pampa.

The sale price is US$ 360 million. The transaction is still subject to compliance with certain conditions, including approval by Vista's shareholders.

Pampa said in a statement that the transaction is in line with the strategy of focusing investments in both the expansion of installed capacity for the generation of electricity and in the exploration and production of natural gas, with a special focus on shale and tight gas in Vaca Muerta.

Vista Oil & Gas is a Latin American oil company incorporated in Mexico with a focus mainly in Mexico, Argentina, Brazil, and Colombia. The company is headed by Miguel Galuccio, the former CEO of YPF.

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