Equinor announced, in a statement posted on its website recently, that it has signed an agreement with Vista Energy to divest its full onshore position in Argentina’s Vaca Muerta basin.
The company said the transaction includes Equinor’s 30 percent non-operated interest in the Bandurria Sur asset and its 50 percent non-operated interest in the Bajo del Toro asset. Equinor noted that its Argentinian offshore acreage is not affected by the transaction.
The total consideration is valued at around $1.1 billion, Equinor highlighted in the statement, adding that, at closing, the company will receive an upfront cash payment of $550 million as well as shares in Vista. The consideration also includes contingent payments linked to production and oil prices over a five-year period, according to the statement, which noted that the transaction has an effective date of July 1, 2025.
“We are realizing value from two high-quality assets we have actively developed as we continue to high-grade our international portfolio,” Philippe Mathieu, executive vice president for Exploration & Production International at Equinor, said in the statement.
“This transaction strengthens Equinor’s financial flexibility as we evaluate opportunities in our core international markets, where we see substantial growth towards 2030. At the same time, we retain optionality through our offshore positions in Argentina,” he added.
Chris Golden, senior vice president for the U.S. and Argentina in Exploration & Production International, said in the statement, “this is a value-driven decision that enhances the resilience of our international portfolio and sharpens our focus in Argentina”.
Equinor noted in its statement that closing of the transaction “will, among other things, be subject to relevant approvals”.
The company highlighted that it has been present in Argentina since 2017, “entering the Vaca Muerta through a joint exploration agreement with YPF on the Bajo del Toro asset”.
The onshore portfolio was expanded in 2020 with the acquisition of Bandurria Sur, Equinor pointed out. The company went on to note that, in 2019, it added eight offshore exploration licenses to its portfolio, in the North Argentinian Basin and the southern Austral and Malvinas basins.
“Subsurface evaluation is ongoing to determine the most commercially attractive path forward for the offshore portfolio,” Equinor said in the statement.
“There are no current well commitments across the licenses,” it added.
Also this month, Equinor announced its fourth quarter and full year 2025 results.
In this results statement, the company announced that it had delivered an adjusted operating income of $6.20 billion, and $1.55 billion after tax, in the fourth quarter of 2025.
Equinor reported a net operating income of $5.49 billion and a net income of $1.31 billion during the quarter, as well as adjusted net income of $2.04 billion.
In its results statement, Equinor said the fourth quarter and full year were characterized by “strong production and operational performance, delivering six percent production growth in the quarter and 3.4 percent for the full year”, a “continued high grading” of the company’s portfolio, and “cost and capital discipline”.
Anders Opedal, President and CEO of Equinor, said in the statement, “with new fields on stream and strong operations, we deliver record-high production and competitive returns in 2025”.
“We continue to allocate capital to further develop and maximize value from the Norwegian continental shelf. At the same time, we are delivering focused growth in our international oil and gas portfolio and building our integrated power business, now focusing on the execution of already‑sanctioned projects,” he added.
“In 2026, we expect around three percent production growth, up from record levels in 2025. We are taking firm actions to strengthen free cash flow, remain robust towards lower prices and maintain competitive capital distribution,” he went on to state.
To contact the author, email andreas.exarheas@rigzone.com
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