Bruchou acts for Equinor in shale stake purchase
Argentinian law firm Bruchou Fernández Madero & Lombardi has represented Equinor on its purchase, together with Shell Argentina, of a 49-per cent stake in the Bandurria Sur onshore shale oil block located in the Vaca Muerta shale play in Neuquén, Argentina, from Schlumberger.
The divestment covers all of Schlumberger’s interest in the Bandurria Sur block, consisting of approximately 56,000 gross acres. The operator is YPF, which currently has a 51 per cent interest, and the block is in the late pilot phase of development with a current production of around 10,000 barrels of oil equivalent per day.
According to the public statements made by the parties, the deal is worth in excess of $350 million, making it the largest M&A transaction in Argentina over the last 12 months.
Martinez de Hoz & Rueda represented Schlumberger in the transaction and Shell was represented by Martelli Abogados.
Bandurria Sur, together with Loma Campana and La Amarga Chica, are the most promising blocks of Vaca Muerta, from which about 64,000 of the 100,000 barrels of oil are extracted daily.
Bruchou Fernández Madero & Lombardi partners Javier Rodríguez Galli (pictured) and María Lucila Winschel led the firm’s team, with associates Santiago P. Balbi, Pablo M. Muir (tax), Martina Ceppi Perdriel and Youssef El Chaer (corporate).
