Vista gains Vaca Muerta exposure in US$360m Pampa Energia deal
Vista Oil & Gas agreed to purchase Pampa Energía's stake in Petrolera Entre Lomas S.A. (PELSA) along with its direct stake in PELSA's Agua Amarga, Bajada del Palo, and Entre Lomas blocks, plus 100% of 25 de Mayo-Medanito and Jagüel de los Machos. The assets are all in the well-established Neuquén Basin. Bajada del Palo is centrally located a stone's throw from Vaca Muerta's flagship Loma Campana block. Led by former YPF CEO Miguel Galuccio and backed by private equity firm Riverstone, Vista is the first E&P company to ever be listed on the Mexican stock exchange. It is also the first special purpose acquisition company (SPAC) to list in Mexico. For Pampa, the sale allows it to focus on its core upstream gas assets, which are key to its strategy as an integrated.