Bruchou advised Vista on a joint investment with Trafigura in Vaca Muerta

Bruchou & Funes de Rioja - July 2, 2021

[vc_row][vc_column][vc_column_text]Bruchou legally assisted Vista Oil & Gas Argentina S.A.U. in the execution of an Investment Agreement with Trafigura Argentina S.A. for US$ 250 million for jointly developing twenty wells located in Bajada del Palo Oeste block, which is owned and operated by Vista..

Trafigura will invest US$ 75 million -of which 25 million are allocated for the purchase of a 20 % participation in the production of the wells under the agreement; the difference corresponds to the investment contributions needed to carry out the development of such wells in proportion to the interest acquired. Vista will continue to be the sole owner of the block; it will operate the wells and will contribute 80% of the investment required for the production of the wells.

Within the global scope of this Agreement, and in addition to the 20 % of the production which Trafigura will be entitled to, Vista shall sell Trafigura 380,000 crude oil barrels monthly with the purpose of supplying its Bahía Blanca Refinery for an 18-month period.

Vista is the third crude oil producer of Argentina and the second largest shale oil operator of the country, having operated the Bajada del Palo Oeste block for over two years now. This is the first strategic agreement entered into by Vista with another company to accelerate the development of its main shale oil block, which has 28 wells in production. For its part, Trafigura is one of the world’s leading commodity trading companies, with over 6 million oil barrels traded daily. In Argentina, the Firm owns and operates the Bahía Blanca Refinery, the Campana Terminal and Puma Energy’s network of more than 350 service stations and 50 agroservices.

Legal advisors of Vista Oil & Gas:

Bruchou, Fernández Madero & Lombardi

Partners Balbi, Santiago Pedro and Rodríguez Galli, Javier S.; and associates Muir, Pablo, Leguizamón, Matías and Lannutti, Sonia.

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