Equinor signed an agreement to divest its entire onshore position in Argentina’s Vaca Muerta basin to Vista Energy for approximately $1.1 billion.
Equinor’s 30% non-operated interest in the Bandurria Sur asset and its 50% non-operated interest in Bajo del Toro.
The consideration consists of a $550 million upfront cash payment, $325 million in Vista shares, and up to $225 million in contingent payments linked to oil prices and production over five years.
The transaction is backdated to 1 July 2025.
Equinor is not selling its offshore acreage in Argentina, which includes eight exploration licences in the North Argentinian, Austral, and Malvinas basins.
This exit follows Equinor’s strategy to “high-grade” its international portfolio, focusing capital on core areas like Brazil, the U.S., and the UK. For Vista Energy, the acquisition adds roughly 26,500 barrels of oil equivalent per day (based on Q3 2025 data) to its portfolio.
note by Alessandro Bazzoni