YPF Strengthens Core Assets with Strategic Vaca Muerta Acquisition

Argentina's state-backed energy leader, YPF Sociedad Anónima, is moving to consolidate its holdings in the prolific Vaca Muerta shale formation. The company has agreed to pay approximately $163.2 million to acquire additional stakes in key production blocks, capitalizing on the retreat of a major international partner.

This strategic expansion was triggered by Norwegian energy giant Equinor's decision to exit its onshore operations in Argentina. Through a series of agreements formalized on Monday, YPF has secured enhanced interests in several strategic assets. The move allows YPF to deepen its investment in already-productive areas of one of the world's most significant shale oil reserves.

The core of the transaction involves YPF acquiring a 16.3% stake in Equinor Argentina. This purchase boosts YPF's total interest in the Bandurria Sur block to 44.9%. Concurrently, the company is taking a direct 15% working interest in both the Bajo del Toro and Bajo del Toro Norte blocks, elevating its overall holding there to 65%.

Key Transaction Details:
* Total Consideration: Approximately $163.2 million.
* Bandurria Sur Block: Interest increased to 44.9%; gross production recently reported at 84,900 barrels of oil equivalent per day (boe/d).
* Bajo del Toro Blocks: Overall stake rises to 65%.
* Broader Market Shift: This deal coincides with a larger acquisition by Vista Energy, which is taking over the majority of Equinor's regional portfolio.

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A Broader Trend in Argentina's Energy Sector

This acquisition reflects a consolidating trend within Argentina's energy landscape. As global majors like Equinor refocus their capital on other priorities or streamline their onshore portfolios, domestic powerhouses such as YPF and Vista Energy are absorbing the divested assets. This shift is strengthening local control over the nation's substantial hydrocarbon resources.

By increasing its ownership in these developed, high-producing areas, YPF is securing a larger share of future output. The company is systematically scaling its operations in Vaca Muerta to drive long-term production growth from its core resource base.

Market reaction to the expansion news has been muted. Despite the strategic rationale, YPF shares traded lower, declining 2.42% to €32.20. With a Relative Strength Index (RSI) reading of 40.7, the stock remains in neutral territory, still below its 52-week high of €33.60 reached in late January.