PAGBAM acted as legal advisor to YPF S.A. (“YPF”) in the sale of its interest in the El Corcobo Block to Pérez Companc S.A. (“Pecom”), through San Benito Upstream S.A.U. (“San Benito””). San Benito acted as the sole purchaser in the transaction. The El Corcobo Block is located in the department of Malargüe, Mendoza Province, and extends into the southwestern corner of La Pampa Province along the Colorado River.
The transaction, which according to media publications was valued at approximately USD 205 million, involved the transfer of YPF's 30.01% interest in the CNQ-7 Gobernador Ayala concession and its 50% interest in the CNQ-7A and Jagüel Casa de Piedra concessions.
The divested interests represented a net working interest equivalent to approximately 7,242 barrels of oil per day and 0.04 million cubic meters of associated natural gas per day, based on YPF's proportional ownership in each concession.
Closing remains subject to the satisfaction of customary conditions precedent, including the receipt of regulatory approvals from the provinces of Mendoza and La Pampa.
PAGBAM advised YPF throughout every stage of the transaction, providing comprehensive legal advice on the corporate, regulatory and commercial aspects of the deal.
This transaction further reinforces PAGBAM's leading position in advising on complex M&A transactions in Argentina's oil and gas and broader energy sector.
YPF Advisors
Pérez Alati, Grondona, Benites & Arntsen (PAGBAM): team led by partner Francisco Javier Romano, with Tomás Fernández Madero and Abril Torres.
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