TotalEnergies (TTE) said Wednesday that its Total Austral affiliate has signed an agreement to sell its 45% stake in two oil and gas blocks in Argentina to Argentine energy company YPF (YPF) for $500 million.
The two oil and gas blocks, Rincon La Ceniza and La Escalonada are located in the Vaca Muerta area in the Neuquen Basin and are currently in a pilot development phase, TotalEnergies said.
TotalEnergies and YPF shares were both up 1.6% in recent trading.
Price: 61.22, Change: +0.94, Percent Change: +1.56
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