Pampa Energia to Sell $360 Mln in Oil Assets

Argentine group Pampa Energia said on Wednesday it has agreed to sell $360 million in oil assets to local company Vista Oil & Gas, which is headed by the former head of state oil company YPF, Miguel Galuccio.

 

The deal is in line with the Pampa Energia's strategy of focusing its investments in electric power generation and exploration and production of unconventional natural gas, the company said in a letter to the Buenos Aires Stock Exchange.

The letter said it includes the sale of 58.88 percent of the group's stake in Petrolera Entre Lomas and its direct holdings in the oil fields of Entre Lomas, Bajada del Palo, Agua Amarga and Medanito-Jaguel de los Machos areas.