Marval advises TotalEnergies on sale of two Vaca Muerta world-class oil blocks
Marval advised TotalEnergies and its subsidiary Total Austral on the sale of their 45% stakes in the La Escalonada and Rincón la Ceniza blocks, located in Neuquén, to YPF for over US$500 million.
The agreement, signed in early August, was finalized yesterday following the fulfillment of several conditions, including government approvals, third-party consents, and waivers of preemptive rights.
The transaction involved a competitive process and the restructuring of the assets, which were transferred through the sale of shares in a newly created entity.
Gas y Petróleo del Neuquén and Shell hold the remaining interests in the blocks, with 10% and 45%, respectively.
On Total Austral’s side, the legal team was led by General Counsel Gabriela Rosello Warren, along with a multidisciplinary group from Marval, O’Farrell & Mairal, including Pablo Artagaveytia (pictured), Francisco Macías, María Inés Brandt, Francisco Abeal, and Virginia Canzonieri.
YPF was advised by in-house counsel Fernando Gómez Zanou and Pilar Rodríguez Salto, with PAGBAM’s Francisco Romano as external counsel.
