Oil giant Shell plc is reportedly considering a sale of its assets in Argentina's Vaca Muerta shale play and has approached potential buyers in recent weeks to gauge their interest.
According to Reuters, citing sources familiar with the matter, Shell is open to selling some or all of its interests in the highly sought shale oil and gas play, part of Argentina's Neuquen basin.
The assets are likely to be valued in the billions of dollars, the sources said, adding that a precise estimate was difficult because some of the assets are undeveloped and commodity prices are volatile.
The sources cautioned that a sale is not guaranteed and Shell could still choose to hold the assets. Shell declined to comment to Reuters.
Shell entered Vaca Muerta in 2012 and has since grown its footprint to four majority-owned and operated license blocks, and minority stakes in three other blocks operated by YPF. Shell's production from Argentina was around 15.6 million barrels in 2024, according to its latest annual report.