Bruchou & Funes de Rioja and Martinez de Hoz & Rueda have advised Vista Energy Argentina and Trafigura Argentina, respectively, on a $150 million joint investment agreement.
This transaction aims to develop three new Pads in the Bajada del Palo Oeste block. Vista will continue to be the sole operator of the block, the operator of the wells and will contribute 75% of the investments required for the production of these wells.
This is the second strategic agreement Vista has entered into with another company to accelerate the development of its main shale oil block, which has 51 wells in production, with daily production of 29,729 barrels of oil equivalent during the second quarter of 2022.
Vista is a crude oil producer and shale oil operator in Argentina that has been operating the Bajada del Palo Oeste block since 2018. Meanwhile, Trafigura is a commodity trader with more than 6 million barrels of oil per day, owner and operator of the Bahia Blanca Refinery, the Campana terminal and Puma Energy, the network of more than 350 service stations and 50 agroservices.
Florencia Hardoy and Rosario Maffrand acted as in-house counsel for Vista Oil & Gas; while Alfredo González Prada, Daiana Castro, Christian Pereira and Laura Marinovich acted as in-house counsel for Trafigura.
Bruchou’s team included partners Santiago Balbi (pictured left) and Gabriel Lozano (pictured centre, left), together with associates Matias Guillermo Leguizamón, Dolores Maria Cedrone and Camila di Fonzo Recchia.
MHR’s team was composed of partners Pablo Rueda (pictured centre, right) and Juan Cruz Azzarri (pictured centre, right), and associates Valeria Celesti and Sofía Pellizzaro Arena.