Madalena to sell stake in Argentina shale block

摘要

Canadian independent Madalena Energy said Wednesday it has entered into a deal to sell a controlling stake in a block in Argentina's Vaca Muerta shale play to Pan American Energy, that country's second-biggest oil producer. Madalena said it will sell the 55% working interest in the Coiron Amargo Sur Este (CASE) block to PAE, a 60:40 venture of BP and Argentina's Bridas, while retaining 35%, it said in a statement. The other 10% is owned by Gas y Petroleo del Neuquen, the state oil company in the southwestern province of Neuquen.