Bruchou represents Vista in the acquisition of 50% of Aguada Federal and Bandurria Norte

Bruchou, Fernández, Madero & Lombardi has assisted Vista Oil & Gas in the purchase of a 50% stake in Aguada Federal and Bandurria Norte in Vaca Muerta, Argentina

 Bruchou, Fernández, Madero & Lombardi has represented Vista Oil & Gas, S.A.B. de C.V. in the acquisition of a 50% non-operated interest in the Aguada Federal and Bandurria Norte concessions located in Vaca Muerta, Argentina.

The Company, through its subsidiary Vista Holding I S.A. de C.V., has acquired from ConocoPhillips Petroleum Holdings B.V.: 100% of the share capital of ConocoPhillips Argentina Holding S.A.R.L., a Luxembourg-based company that owns 95% of the share capital of ConocoPhillips Argentina Ventures S.R.L.; as well as 5% of the share capital of ConocoPhillips Argentina, thus acquiring, directly and indirectly, 100% of the share capital of ConocoPhillips Argentina.

ConocoPhillips Argentina owns a 50% non-operated interest in the named concessions, which are located in the Neuquina Basin, Neuquén Province, Argentina, and comprise 24,058 and 26,404 acres, respectively, in the Vaca Muerta shale oil play. The Province of Neuquén has granted the Assets, each individually, as unconventional exploitation concessions until 2050. The Assets have no outstanding investment commitments; and are operated by Wintershall Dea Argentina S.A., which owns the remaining 50% of each of the concessions.

Vista has made no upfront payments and has assumed the carry in the amount of $77,000,000 US dollars, which, on 24 July 2019, ConocoPhillips Argentina agreed to pay to Wintershall upon its assumption of 50% of the total investments that corresponded to Wintershall’s interest.

At the same time, Vista and ConocoPhillips BV entered into an unsecured credit agreement whereby ConocoPhillips BV will make available to Vista, for a period of 24 months, a loan of up to $25,000,000 dollars bearing interest at LIBOR plus 2% per annum and repayable in full on 16 September 2026.

Through this transaction, Vista has acquired 25,231 net acres, increasing its total acreage in Vaca Muerta to 157,853 acres, and has added up to 150 new well locations to its inventory in Vaca Muerta, for a total of up to 700 new well locations.

Bruchou’s team consisted of partners José María Bazán (pictured left) and Javier Rodríguez Galli (pictured right), as well as associates Nicolás Dulce, Ramón Augusto Poliche and Sonia Lannutti.