Milbank LLP is advising YPF S.A. in reference to its definitive settlement with Whole Austral S.A., an affiliate of TotalEnergies, to accumulate a forty five% curiosity in Rincón La Ceniza and La Escalonada, two unconventional oil and fuel blocks situated in Argentina, for $500 million. Closing of the transaction is topic to the satisfaction of sure closing circumstances.
Situated within the Vaca Muerta shale formation, the Rincón La Ceniza and the La Escalonada blocks are at the moment in a pilot growth section. Whole Austral’s companions in these blocks are Gasoline y Petroleo de Neuquen (10%) and O&G Developments Ltd S.A (45%), owned by Shell. Argentina’s Vaca Muerta shale formation is the world’s second-largest unconventional fuel reserve.
The Milbank staff was led by World Company/M&A companions Francisco Nuñez and Ross Shepard and affiliate Francisco Troconis.
