ExxonMobil, a multinational oil and gas giant, has reportedly received numerous offers for its stakes in Argentina's esteemed Vaca Muerta formation in Patagonia earlier this month. This was revealed by sources familiar with the matter, shedding light on the growing interest of investors in the rich shale reserves of this South American nation. The details of the organizations that have shown interest in these holdings, however, remain undisclosed at this time.
1. ExxonMobil, a multinational oil and gas company, has reportedly received numerous offers for its stakes in Argentina's Vaca Muerta formation in Patagonia.
2. Sources familiar with the matter indicate that there is growing investor interest in the rich shale reserves in Argentina.
3. The identities of the organizations that have shown interest in Exxon's holdings have not been disclosed.
4. Industry insiders have confirmed that Exxon's assets in the Vaca Muerta formation attracted significant investor interest.
5. The Vaca Muerta formation, one of the world's largest reserves of shale oil and gas, is likely the reason for the increased offers for Exxon's holdings.
According to a 2013 report from the U.S. Energy Information Administration, Argentina has 27 billion barrels of recoverable oil embedded in the Vaca Muerta formation.
Several industry insiders have confirmed that Exxon attracted significant interest from potential investors for its assets in Argentina's esteemed Vaca Muerta formation. This region, located in Patagonia, is renowned for being one of the largest reserves of shale oil and gas in the world. With this wealth of natural resources, Exxon's holdings in this area present an intriguing opportunity for investors, which is likely what led to the surge of offers earlier this month.